The advantage is that you can install OS installations on the other partitions. If you want to have a rescue partition to boot from which has all your disk utilities such as DiskWarrior, etc. on it, if you're a developer and want to have several different versions of OS X to boot from to make sure your software works with them, if you have an ADC Select account and want to try out a seed version of a future OS X version, or if you want to dual-boot another operating system such as Linux, then partitioning may be a good idea. Other than that, though, there's not much advantage to it.