we are planning to make generic API's as Components to utilize it for other application in the future . Found an PDN Article about implementation but it's more specific to 5.x pega version.

Has anybody implemented Components in Pega 7.2 or later versions .

I had gone through pega help and implemented as mentioned below but still have couple of questions around it

Implementation :-
1) Created component through wizard,defined the built on application as Pega and it created ruleset version for component specific.

2) Created component specific class(MyOrg-Comp-API) and made the changes related to flow rule In which we manage to make api call and exception handling .

3) Added component to Application and enabled it . Create a page property in application work class and given the page context class as MyOrg-Comp-API

4) Added flow rule to case process and made it run on embed property and passing the parameter to the flow which are required to make an api call.

if I didn't follow the implementiation correctly then please correct me .

Question :-

1) what's point of defining the parameter at ruleset level even though we are passing parameter to flow rule directly from case process flow.

2) How different component RS type when compared with org ruleset .
3) Is this component ruleset a different feature from the component that can be added in the application rule by downloading contents from BIX.?