It depends upon what you are trying to visualize. If you are trying to visualize the pattern of the knight's moves, e.g. how to reach a specific square using a sequence of moves, then highlighting the target would be more valuable. The displacement matters, not the absolute positions. The absolute positions are more of a hindrance since it makes it more difficult to generalize the sequence of moves.

yes, i have an algebraic mind, and I find it easy to visual where the squares are, and if you say "N-KP4", I'm Johnny-on-the-spot! now, what's this a-b-c stuff?