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I had wondered if there was a view that it was safer to ‘lock them down’ in raster, but seems this isn’t a consensus shared. Think I will stick to my Illustrator / InDesign preference!

It is vastly safer to "lock down" such effects in raster, no ifs, no ands, no buts. I would highly advise that while maintaining them as "live" vector effects in your master document is a very good thing, the final output that is sent to a service bureau should have those effects "flattened" into a single raster image and proofed before being sent. Don't trust a service bureau's RIPs to rasterize them properly.
 
actually in my line of work, I use Illustrator for vector images, however I do my concepting/layout artboards via Photoshop and do all my original vector illustration work in Illustrator and then just do a mesh of both depending on the needs.
 
The ultimate truth is that while there are "industry standards" as to when to use PS or AI, you can use either for just about anything as long as you know the limitations and advantages of each—as well as how to get the best results for your particular need for each. For instance, you can save a Photoshop file as a PSD to retain the vector output of text and shapes, but any raster image in the file will still have to conform to resolution restrictions.
 
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