I can not see any benefit to using matrix items vs just creating the "matix" manually as sub-items of a parent.

Surely there must be a major benefit to matrix items.

Note: we are NOT using the web store, these are just for our internal use in creating sales orders and invoices.

Can anyone enlighten me?

P.S.

When I created an Item matrix where each option has a separate price, the system auto-created three item records just as I would have done manually.  So I don't quite understand the comment from the Help system:

With an item matrix, Wolfe can track each combination of color and storage separately without having to create an item record for each individual combination.