Hi:
I'm not sure how to respond, but since you haven't gotten any answer I'll try.
The problem I have in answering your question is that it is hard to describe the advantages and disadvantages of being who and what I am. I don't know any different. I have been severely HoH since birth, so I can't compare it to being hearing. I'll try, however.
Disadvantages: For me, communication with others is always something I think about. When I am at a party or other situation that should be completely fun I have to think about things like: Does anyone here know me? If not, I might have to explain so they don't think I am rude for not responding or if I have to ask them to repeat themselves. Is the background noise making problems for my HAs? If I am talking with someone, I have to try to make sure I can see their lips so I have a better chance at understanding what they say. If I go to the doctor, I try to arrange an interpreter. I have interpreters and note-takers for some classes, so these need to be arranged and we need to find a way to work together. I also worry a bit about safety when I am alone in my apartment (that's rare because I have 2 hearing roommates) - I am afraid someone could come in and I wouldn't hear them.
Advantages: ASL is beautiful. My parents learned ASL when I was a few months old (I failed a newborn hearing test and they retested me several times before I was 2), and they taught it to me. My 4 brothers and sisters know ASL (some better than others), but my parents
really know ASL and that gives us a special bond. I have had HAs forever, but I've always taken them off to read. I love reading, and without the HAs I can read uninterrupted, in my own world. Being HoH also makes me realize that everyone is struggling with someone, so I try to be patient and understanding with others. One of my brothers (they are all hearing) has never had to really struggle with much and so I don't think he is very sympathetic or kind to others who do. I would rather struggle and be a better person because of it.
I hope that gives you some place to start.