I have used a pot with a glass placed inside to heat my glue for the last 200 guitars and although it has worked very well, I have always assumed that a proper glue pot would be a step up.  I finally ordered one and have used it and discovered that each method has its advantages.  The method I learned for installing both rosettes and bindings depends on having a hot, wet hammer to press things into place with as a last step in the gluing process.  I am sure there is another way to do this but I like this method so i will be using my old glue pot for those jobs.  Another advantage is the larger cuantity of hot water for cleaning hands, and brush.  Of course the new glue pot is less bulky and is used without the hot plate and so I like that too.  Hopefully this illustrates both that tradition has its place and that newer is not always better.