I do my own tips and I have the same knife from your link. It makes cutting the tips a lot easier because the edge is only on one side and you can hold the knife to the shaft and just slide down to the tip with no worries of cutting into the ferrule.
Go to a place that sells pool tables and talk with them. They will probably have some on site or will recommend something for you. Unless your gonna be running a pool hall in your house, don’t worry about anything other than does it look good in the room.
Good luck getting pool players to fork over $240 for an aiming system from a relatively unknown player. Better to put it on a video for 24.95 and be prepared to do some promoting.
jmo...Tom