I usually just go for the SP since the additional rewards from increased appraisal ratings are somewhat random (and often disappointing?) despite going over 100 or even 200 on the appraisal.

I've read that certain rare materials can be obtained through high appraisal rating on local leves, and once I was trying to get an antelope horn from a Goldsmithing leve based on the rumor. But going over 100 and twice over 200 on appraisal rating for about 6 leve cycles never gave me the item I wanted. ><