Answer:
Advantages
The advantage of true delegation is that it alleviates you from having to micro manage your employees. It allows top management to allocate the proper task or objectives out to the right employees that are capable of handling the task at hand.
Disadvantages
The disadvantages of delegation is that it can be easily misused and go from properly delegating task to using traditional methods of management (demanding the work get down without seeking feedback). Another con maybe that the person you delegate the task to may not be able to achieve the goal as quickly or as effectively as you can. You also have to learn to delegate but not blur the line into micro managing.