The advantage of awk is that it is faster in some cases and a little more convenient for simple command-lines due to automatic field splitting. The disadvantage is that it swallows errors silently even more than perl (I think).
Yep Perl* is a great swiss army knife that rendered sed and awk obsolete -- I am old enough (50) to have been thru this progression. It's funny to see awk and sed come back around.
(It's a little like functional programming being rediscovered when Lisp has been around since the dawn of time).
* I think Perl got carried away when it added objects and folks started writing large programs with it (although I have written some large scripts for biologists doing genetic studies -- which is interesting popular use case == there are google groups and O'Reilly books focused on this use case).
Also, Larry Wall really humped the shark with Perl 6.