We are currently using 2 Record types for the IP. Standard and Calibration tool. While there's not really an issue using different record types, there are some things to be aware of.
Integration: for our calibration tools we select the IP on the WO so we can populated it as a WLD and show it on our Service Report (Output Doc). This record type had to be filtered out of our WO Invoice Process to SAP.
Filtering on Reports, and what SFMs are displayed.