Aside from the advantages you had stated, you could also set a bounced price if you believed after the trigger, it would slightly go upward for a corrections, however more often if you had it mistaken this may result on a non triggered limits which may cause a much loss

Majority of exchanges used the Stop limit feature in order to give you a choice on a stop/limit the possible loss, however, you may also use this to open a position or take the profit trigger options

Stop loss in margin trading is too difficult to estimate, usually if its too tight it may easily hit by a certain wyck fluctuations so a loss in your side is very probable