To answer the original question.
1 Advantages to Folk Song.....Immeasurable
2 Disadvantages to Folk Song.....Zero.

It's a very loaded and deliberately contentious qustion In my opinion.
The world is a hugely changed place from the 1930s. Barriers have been broken down by all forms of technology, Virtually everyone I know is involved with both song and dance. And with the current regime running EFDSS the future looks rosy to me.
Yes C Sharp house is a cranky old building, but the people inside it are not.
The improvements in the last decade or so have been immense. Long may they continue.
Only point of dissent...
Get rid of that bloody mural in the main hall!