Correct. The ability to determine distance and velocity allows the trajectory and dynamics of the instrument to be computed with high precision. To see one app

Correct. The ability to determine distance and velocity allows the trajectory and dynamics of the instrument to be computed with high precision. To see one application of this information, look for discussions of the "Pioneer Anomaly". That particular effect is now understood, but had it held up to detailed systematic-effect analysis, it would have affected our understanding of gravitation on solar-system scales. When one enters entirely new territory, the understanding derived from single reliable measurements can be quite substantial.