I don't think there's anything amiss with using a locatur collar if you fancy it. I know one of our members, Jackspratt used one on one of her boys, who liked to disappear for a few days at a time. She was surprised at the extent to which he roamed. Another friend of mine uses them on her two cats, but she is often thwarted when the boys return home, minus their collar and tracking device, but she's become very good at getting them back again. She does however say that for owners of a nervous disposition, it isn't always helpful to know where your cat goes, because you end up worrying more. The plus side of course is that generally you know where to look for them.
Welcome to the forum Larry, and well done on adopting a feline friend to keep you company. I don't think you'll regret it. What's your lad's name, and what colour is he? Where did you get him from, and what is his character like? Go on - you can tell us - we love to learn all about our member's cats, and watch as relationships are formed and treasured.