I originally created a setup after this feature was released. I will say that I only used it to see what help it would lend to me.
I cannot answer everything you asked but, maybe I can help some.
I do not think you ever need a machine setup. Really, your post processor is all you need. Everything else is relative and allows you to move between any machine. I was hoping that the machine setup would help in some way like speeds and feeds or something.
Min and max would be your machine min max locations.
Offsets are g54 and up. If you had a fixture mounted at a known place and you had that offset programmed in your control software, using whatever offset number you linked that to, it could be called in the program.
I will need to check this setup a in my machine definition. I'm not sure it would help any unless you could call that offset in the cam side and then the post processor could insert that. I have no idea if fusion can even do that yet. The last time I checked I could only enter metric values so I converted everything and then subscribed to a post that complained about the same thing. I suspect it's been resolved. Which could mean that you could have cam update the gcode if the post processor is written to allow for that inserted code from the machine definition.
Whatever post processor you have, if you open it in visual studio code with the plugin for fusion post processors in it, you should be able to find the block size used. But at that point, what's the machine definition doing?
With the speed question, I'm assuming it could warn you of you try and use a value higher than your defined value. Even so, your control software will limit it to the programmed values in it. You can't increase beyond what is maximum value is anyway.
Your machines home is 0,0,0 in machine coordinates but, that may be offset from your actual home position. Again, not sure everything anything in this could do anything in post without the processor supporting it. I'm starting to think that with the addition of machine control from fusion itself and certain brands supporting it, that's what these machine setups are really for.
As of now, I do not think machine configuration matters at all. Hopefully someone can explain why it does if it does. Your cam programming will happen like normal and your post processor should do the rest. You can enable offsets in the dialog before processing of the processor supports it. Tool numberingIt's important if you have a tool changing method and m6 is supported. I would focus more on cam and understanding how to modify a post processor of you need to.
I don't know the setup your running. Mach? Saunders from nyc cnc on YouTube shows how to make some pretty useful changes to show comments and macro triggers from the post processor. Digging into processors can be tedious and if your machine works to your understanding now without you needing something else, just get super comfortable in your setup. Cam works perfectly fine without a machine setup defined. Your controller knows your machine and your post processor should know how to use the features available.
I had to make modifications at one point after creating a 4th axis of my own and running into limitations that several months later, the Autodesk post processor people added themselves to fix it. Specifically inverse time movements because my rotary was insanely slow and choppy with the base settings. But, that's fixed.
I thought that a machine definition may let me click it and have a base setup model of my machine to virtually mount to add well as visualize the motion. I just use a fusion file with that model now. I don't get motion simulation from it but, I can put a part on it and reference the offset at the point I mounted it. You could just draw and extrude a black that represents your table and mark it as a fixture in the cam operation. It will tell at you to let you know you're cutting into the bed if you go through your material. I usually draw up my material and use that to create my setup in cam. It really is annuity your personal preference and Bert open ended. Which leads to lots of confusion.