It's the same, yet different...
You can do all the same work. You can also do a little more. If you are just at a console, you can't open Xwindows programs from the command line. You can from a(n) <<insert favorite GUI terminal program here>> session.
One disadvantage might be speed. If you are running a highly cpu-intensive program in a terminal, then it will be losing cpu-cycles to all the other programs associated with the GUI.
There are also advantages to running some things from a terminal/console. You might have scripts or programs that administer your system/network that are easier to run from the command line due to having to enter different arguments after the command. Typing a fast "tar -xzf ~/dow[tab]/new_d[tab][enter]" to untar a newly downloaded /home/user/downloads/new_download-i386-src-1.2.34.tar.gz is a lot quicker than having to open the file manager, click to the file, open it up, and drag the contents out, etc. I know many people who keep a terminal open when they are in Xwindows for just such purposes.