The engineers who work in the powertrain divisions of all the manufacturers are complete idiots. I mean profoundly stupid. They -and I mean all of them- went through the trouble of using centrifugal advance and vacuum advance mechanisms for nearly every vehicle that rolled off the assembly line. And, the accountants...don't even get me started on them, those imbeciles! The they could have saved the company money by not paying for a bunch of useless parts in the distributor. Think of how much they could have saved if the ditched the centrifugal and vacuum advance. Maybe not a lot for an individual car, but over millions of cars, why, you could buy a country for what they wasted.
Seriously, this is a bit tongue-in-cheek, so take it for what it's worth. If you are building a dedicated drag or track car, then by all means, lock out the distributor. If you're not doing that, then there are clear advantages to using both centrifugal and vacuum advance. I will say this on vacuum advance, though; The higher your static compression the less value there is in vacuum advance. Once you're over 11:1, you don't need vacuum advance.
There is one other scenario where you would lock out the distributor and that is where a computer is controlling all timing events.