ADVANTAGES:

Each letter will have just one or two sounds
[Eech letter will hav just wun or tuu sownds]

This will make it easier to read, and spell
There will be less exceptions, which at present must all be memorised.

 this iz soo much eesier!
This means that learners of English will find the job much easier - whether it be children or other language speakers.
It means that people with some kind of handicap, such as visual dyslexia (dislekseeu), will learn to read faster.
It means that long words with a number of syllables can be both read and spelt akuuritlee by those of less proofishinsee in spelling, huu miit utherwiis bee kwiit brilleeint.

It will meen less arguumints umungst leegalistik noo-it-orls huu liik tuu beet peepil oover thu heed and maak them feel stuupid beecoz ov thir lak ov nolidje. Liif iz diffikult enuf withowt unesesiree komplicaashins ov werds that doon't sownd as thaa ar rittin.
Intellijenseeu ar uusforl wen thaa maak liif eeseer tuu liv, but unfortuunitlee, thaa sumtiims liik tuu maak it harder, soo thaa can feel suupereer - just arsk them tuu duu u praktikal job for munths on end, and see if thaa still feel ubuv uthers. Withowt ower praktikal peepil wee world hav noo fuud, klothing or shelter - wee orl hav ower needed gifts.

Please do e-mail me if you come up with other advantages and stipulate if you want the idea/s acknowledged...