What are (If there are) the differences between a Simulink library and a model reference. There's advantadges in using either of them in different situations?
The main purpose of libraries and model reference are the same: facilitate the reuse of simulink models. When you work with libraries, simulink "imports" the content of the referenced models in to the main model. Sometimes, this leads to the developer dealing with gigantic models (more than 50k blocks), which can be time consuming. When you are designing a library, the lib file cannot be run. You have to "instantiate" it in the main model. On the other side, model reference deals with separated models. They are put together when you press the simulate button, but during the design time, you deal with completely separated models. With model reference, you can also select acceleration methods (it basically compiles the model) and this can't be done with libraries.