Strictly for fuel economy. I don't want to hear anything else, except fuel economy.
The idea is it pulls timing advance as vacuum is increased. Want to see where your engine pulls vacuum? Hook up a vacuum gauge and drive the car. If you're anything like me, you'll be lucky to see much vacuum at all while driving, except when popping it in neutral after a hard 3 gear pull.....
Under wide open throttle you will not see any vacuum, and the distributor will advance based upon the mechanical advance mechanism (Weights and springs inside distributor).
If you're building a cruiser, stock style rebuild, or a car you plan to drive for long distances, go with the vacuum advance. If it's a street/strip car, a car with good hp where you need to know the timing at all times, or a car that is just for show... I like a mechanical advance only distributor. One less vacuum line to worry about.