I've used the phenolic, in smaller pins. And shoot with a cue that has 2 shafts one with the phenolic, and one with brass insert. It is a slightly different feel, but I seem to prefer the the one with phenolic, altough I do aggree with Willie that everyone is different, so it may be subjective from person to person.
I used a piloted joint, and the phenolic really snugs up nicely to the wood bore in the butt joint. I would'nt be afraid to use It with a larger pin, altough I think coring it deeper like he mentioned might not be a bad idea, so as to have more glueing surface, so it does'nt pickup a clicking later down the line. Another solution though for using It more like an insert maybe be to thread to OD of the insert, like standard ones, altough not sure how feasable that would be with the larger dia. pin. It glues up pretty well, just that alittle insurance seems like a decent idea.
I use superglue to cut cleaner threads sometimes also, and it does help. From threading ferrules on though, I have since noticed that the wax seems to help more then anything, and I have started tapping Mine alittle different then most recently, because I don't try to tap the full lenth in one shot, but rather do it in a few attempts, and then backing off each time & cleaning up what I cut before going further, and if I apply wax each time I do that, then the superglue is not really needed, and they thread very easliy, coming out very near perfect anyway. I have done a few that way recently, and seems to work well for me. It does'nt seem to effect how well the ferrule glues up, but I don't over do the wax either, just what I need for smooth threading, and even if it did, It would be easy enough to clean up. The threads are actually good enough that I may would be able to get away with no glue, but I use it anyway just to be safe, and make sure It does'nt loosen up.
Greg