Question

Dear Rabbi, 
At tractate completion celebrations, it is customary to recite the hadran formula, which includes a list of the ten sons of Pappa (though almost none of them were actually sons of Rav Pappa). This is an ancient custom, and Rav Hai Gaon already addressed it in his responsa, but its reason is unclear (and my teacher Rabbi Judah Medan once said: “I know twenty reasons for reading the Book of Ruth on Shavuot, and only one reason for reading the Book of Esther on Purim”). The Rema and Maharshal suggested various ideas, but they are not very satisfying.
I once heard a joke from you that in breadth-study, you learn page 3 in order to forget page 2, page 4 in order to forget page 3, and so on. But when you get to the last page, what do you do in order to forget it? You recite the hadran, and that is why it says before it, “Let this be recited and it will help for forgetting.” 
It is well known in this world that the great majority of your learning is in in-depth analysis and not breadth-study, so I do not know how accustomed our rabbi is to making a siyyum, and therefore I will not ask what you yourself do in practice. My question is: is there value in making a siyyum (beyond exemption from the Fast of the Firstborn), and how closely does one need to stick to the text of the hadran?
Thank you in advance 🙂