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For one off, I can't see how it makes any difference. If you are doing the same thing more than once, then you are just being wasteful to repeat it and also running the risk of the files getting out of sync.
I can see an advantage to internal in the case of someone reusing the same title page over and over and just changing the title itself. You load it in and change the title itself and you are good to go, all in one file and no linking either. I might well do something like that if i had to make ebooks for a living. (which I don't, Thank God!)
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