What's nice about the in tank filter is that it also keeps particles out of the petcock. The ones since 75 (for the CB550, anyway) have a cone in cone arrangement, fit tightly, and abrasive particles can route grooves in the soft plastic cone during operation of the valve. This can effect the sealing ability and even leaking later on. I use the petcock each time I start and stop the bike. Chunks of rust and other debris have scored a couple of the petcocks I have received.
Cheers,