On a non-standard approach to the classification of conics?

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I've been introduced to a method of classifying conics but it's too cumbersome for me. I've discovered something that seems a little more promising on Eves' Elementary Matrix Theory:

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And then,taking the rank $\rho$ of the matrix:

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And then, using also the discriminant of the conic (from Aarts' Plane and Solid Geometry):

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But I'm a little unsafe about using them. I mean, what could possibly go wrong against the usual approach of using rotations and translations? What would I lose by using this approach?

From what I know, the only problem that could happen is when the conic is an imaginary ellipse or hyperbola.