Daniel, I build a reference edge or reference edges perpendicular to one another then use those for the remainder of the process when dimensioning lumber at the start of a project.
In the process of building I'm going to create various joinery that all works off of these reference points in conjunction with 90 degree end grain cuts.
Also, so, stuff like sliding dovetails, long through tenons, halving joints and large bridle joints all gain accuracy from starting with precision surfaces.
Yes you you can match plane, but that doesn't do a whole lot for you if you are making two curved edges or if you are not joining the peices together, like making table legs, table edges, skirts, ect.
I bought 3/8 x 2 x 36 precision ground tool steel beams to use for accurate work, I have three of them and use them all the time. I check them after receiving, one was out .020", so just a heads up that the advertising doesn't always mean precision on arrival.
I also have have an empire 8' beam that I straightened to .003" over 8', but it was out .030" before that.
David's method will produce an incredibly straight edge and will do so for not much more than sweat equity invested in producing it.