You don't help the AI much unless there is a US task force within sailing distance, or aircraft on a task force within flying distance, or US land-based aircraft within flying distance. If you don't see them attack while you're there, your contact report was just for emersion and you're not really helping the game win (so to speak.) Frankly I would rather take the targets for myself rather than handing them to the AI (if I have any torps left.) In the case you stated, you're not giving up much by reporting in, but you might get docked for not fulfilling the target assignment. Always a risk.
-Pv-
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