The only advantages I see is, it being a pneumatic controller, it is safe to put it in hazardous area, close to your process, so in situ tuning of process parameters can be done. Disadvantages could be many many, a few are: 1. Moving parts - more maintenance 2. Pneumatic signal travels slow 3. No autotuning or any complex control 4. Manual adjustment is required 5. May drift after continuous operation 6. More costly to operate - compressed air is energy, more maitenance
Sometimes you see pneumatic controllers running on other than air, I have seen them on natural gas. Pneumatics is also good for local control in wet areas e.g. flotation level control in mining. Most electronic controller output signals still convert back to pneumatics at the control valve