A miter saw stand will provide the stability and functionality of a miter saw bench or work station. When working to precision, you need a stable platform to work from and the tasks required of a miter saw require accuracy - much like the reasons why a hole saw is the best job for what it does.
A saw stand allows you to get more out of your saw and most find them difficult or more labor intensive to use without one. Given the stability that a stand offers, they should be viewed as mutually exclusive - one doesn't work as well without the other.
You can opt for a portable model or, if your work area is static, a standard fit-it-to-the-bench type is the better choice. Whatever you go on to purchase, make sure that it suits your working environment in order to receive the best results.