Libraries within SolidWorks are super-useful when reusing a variety of items such as Parts, Notes, Sketches etc.
Notes/Annotations are commonly added to library for easy drag&drop application to drawings
Create library items for the following:
ISOMETRIC VIEW FOR REFERENCE ONLY
VOLUME: $PRPVIEW:{Volume}in³
Often times commonly used items may be added to design libraries for easy insertion into assemblies.
The following are some common library folders:
FASTENERS (screws, nuts etc.)
PASSIVE COMPONENTS (resistors, diodes, capacitors etc.)
ADDITIVES (Loctite, anticease, solder, flux, epoxies etc.)
Commonly used features can be easily added to parts by simply drag & dropping them onto a part then defining any required references such as dimensions, edges, faces etc.