The standard nut is fine for most applications. The ball bearing nut is better, requiring less force to tighten, when dealing with ER collets which hold smaller diameter of stock, or when dealing with stock held in a collet at the lower end of the collets capacity.
So, for example, an ER collet with capacity 5mm to 4mm, will be less elastic 'springy' then an ER collet with capacity 10mm to 9mm, because the smaller capacity collet has 'more metal' to force to close than the larger capacity collet.
Similarly, if a material diameter 9.2mm is held in a collet 10mm to 9mm, more force may be required to close the collet down to 9.2mm, as opposed to holding 9.8mm diameter stock in such a collet.
In both such cases, a nut with ball bearing seems to work better with less force applied. At least, this is the simple way I understand it.
Ketan at ARC.