As a general disclaimer, I have never used directional hitting. Not one swing. So I don't just want to jump to conclusions and say "yes", because that would lead you astray.
However, the general idea behind these setting are this. I am looking to squash the abundance of home runs hits and scoring plays, and increase the variety of hits types and results spread across the entire field. The combination of increasing contact, and lowering power, solid hits, and timing seem to work towards achieving this goal.
I would say from an offensive perspective, these sliders should affect the results after the ball comes in contact with the bat, so the end results should still distribute based on the slider setup. You may consider raising/lowering timing, or tweaking pitch speeds to taste, as these will have a slighter impact on your results as opposed to tweaking Contact, Power, or Solid Hits.
From a defensive (fielding and CPU sliders), these should of course work just fine regardless of hitting interface, and the slightly increased aptitude of the fielding speed and arm speed should prevent you from going hog-wild on the computer, while allowing you a more spread-out distribution of hit types.
The old adage is to "try it and see", but definitely give it a good 5-10 games to decide if these are for you.