Hi Ian. Welcome to our little corner of the 'net.
Miter track(slot) or t track? In my opinion, and that is what this is, MY opinion, you don't need either. The bit is round... it will cut from any direction. T track and miter slots limit you as to where you can put your fence. Having said that, it's entirely personal preference as to whether or not you install/use them. I prefer using a sled of some form for those times you need to position your work "just so" in relation to the fence.
Sometimes I wonder whether the world is being run by smart people who are putting us on
or by imbeciles who really mean it.