I may qualify for the more "simple-minded" kind of guy someone else said before. If you're on a visual, well, fly visual for god's sake. We are flying airplanes with two pilots, one of them is supposed to monitor. If company policy is to be stable at 500' or 1000' AAL for visual (we use 1000), then the PM should be paying attention (even more below said height) the PF doesn't fly the aircraft out of stable approach. No need for minimums callouts or what have you. Even most airplanes will call out 1000 or 500 for you, it takes a special situation (or two special pilots) to miss that. No need to over-complicate things.
If you briefed for X approach and in the process of flying a visual you fly a self-vectored instrument approach (the one you just briefed) I guess it doesn't hurt to set the minimums for that approach. Even though it's absolutely irrelevant and doesn't help your cause as you should be visual (and stable) in most cases by that time, which I think is the criteria needed for a visual approach. It doesn't hurt doing it but I reckon it's as useless as men's nipples