You're welcome on the media feed tip!
Absolutely you should input the head rank! Will it hurt the head if you don't? Maybe, maybe not, depends upon who you ask. But!!! If it wasn't important, why would the manufacturer go to the trouble of putting it on the head? I do know some of the code has to do with the fine tuning of how the head fires. Don't know what else...
But I ran into a situation once where a solvent printer had a water based head rank input and it oversprayed like crazy. Changed it to the correct head rank and the overspray disappeared. So, it is important.