It depends on what goes before it. If you are doing something like this:
$result = mysql_query("query");
and your query has an error in it, then $result is still set, but it set to false. Use isset() if you aren't sure yet in your code whether or not a variable actually has a value. For example:
if(some condition)
{
$some_var = 'message';
}
if(isset($some_var))
{
echo $message;
}
The variable $some_var is only set if the condition is true, so you use isset() in your code to check if it's safe to use. If you changed your code to this:
$some_var = '';
if(some condition)
{
$some_var = 'message';
}
echo $some_var;
then you don't need to use isset() because $some_var always has a value (you set it to an empty string at the start). Even if a variable is false, it's still set, if that makes sense?