The grafset method programming offers advantages such as a visual representation of relationships and dependencies, making it easier to understand complex systems. It allows for quick adjustments and iterations, promoting efficient development. However, its disadvantages include potential limitations in scalability and performance for large datasets, as well as a steeper learning curve for those unfamiliar with graphical programming concepts compared to more traditional coding methods. Additionally, it may not always provide the same level of fine-grained control over logic and data manipulation.