Ok, I did some investigating and noticed the cam definitely is handling the tool tip radius based on the tooling models I made and the insert dimensions and cutting point drawn in a specific coordinate system with the center of the tool insert radius center being at 0,0,0.
So I think the cam will be the smarter bet since mach won't have to use the look ahead so much for its calculations. So I will use the tool x and z offsets in mach and the tool tip comp inside the cam software. I rarely make changes in the code anyways as the cam software is very quick to adjust whatever is needed, it auto updates the cam if I make any changes to the model since it is Integrated in solidworks.
I assume that tool setting and part zeroing should be the same as I noticed the cam added the tool tip radius to the X and Z travel distances to achieve the correct cut lengths and reach the center point of the work with the cutting edge of the tool tip.... Will give it a go tomorrow and see what happens!