Drupal - Any advantage to using Profile2 module vs. custom user account fields?

The Profile2 module is only good if you need more then 1 type of profiles. For example: - a student profile, with certain fields. - a teacher profile, with different fields.

If you don't need different types, just stick with the custom user account fields.

Hope this helps!

There are a few other things that you could take advantage of if profiles are nodes, for example, keep track of the number of page views to a profile. Or you could use node revisions.