Advantages:
Weightless.
Infinite arrows.
Soultrap/Banish with perks.
Disatvantages:
Lower damage.
Cannot enchant/upgrade.
Dissapear after a period of time.
Takes a while to cast/summon them.
Honestly, i only found them useful during the early level stages where my enchant/smithing/1-handed/archery ect were low, and stamina/carry-weight was low. Since they are Daedric weapons they do decent damage, but once you get the above skills up they become obsolete kinda fast and end up only being there for either roleplaying aspects, or aesthetics.
One thing with them though, they never stop looking cool

but i wish they would have had ALL the weapon types... wtb a mace summon.