My thought is it makes it easier if we standardise on a multitrack recording app for format compatibility, which is why I'm pushing Ardour.
The advantage is you have all the tempo and bar/beat data there which makes it really easy to sync with midi or to mix in separately produced audio files (assuming tempo match). It means that people can use other tools as a source for tracks.
There's also shit-loads of open source plugins as well as some pretty high-end commercial ones if we want to go that far (e.g. http://www.linuxdsp.co.uk/
The disadvantage is we all have to learn that tool (and the associated stuff like Jack), and whilst Ardour isn't that complex, there's a lot going on and there's a learning curve.
It also only works under Linux and Mac.