The As-Matured filter is a very efficient way to display an accurate configuration for non-latest WTPart versions. There are however two aspects around Lifecycle changes that can limit the accuracy significantly.
For non-latest revisions the date for the As-Matured Filter is filled with the latest "Enter Phase" entry to a released state (determined by as matured preference). This works just fine if this entry was created during a release process. However, in a system containing data that went through a series of Windchill upgrades, there are typically "Enter Phase" entries arising from reassigning/updating a Lifecycle Template. (Using release targets available from Windchill 10.1 for instances requires an update of the lifecycle template.) For this data the date of the upgrade is always used as a reference date for the As-Matured Filter, because there is an "Enter Phase" entry on that date. For most user it will be quite difficult to determine the correct date from the lifecycle history table. So, the value of the As-Matured Filter diminishes.
Also, the As-Matured Filter will always show the latest lifecycle of a specific WTPart Version. When looking at non-latest child-parts of an assembly (e.g. during a structure compare) it might be valuable to resolve the state the version had at the time of entered reference date for the As-Matured filter. This information could be retrieved from the Lifecycle history. This is especially valuable, if the child-parts might have been set to invalid by now. The decision to resolve the historic lifecycle state could be part of the "Config Spec" tab in the "Edit Filter" dialog.