Yes, you can use a middle buster/potato plow for trenching, and there are a bunch of prior posts on such.
Advantages include the low cost of the plow, and the easy use (point tractor where you want the trench). Disadvantages include the limited depth (18" for most; which eliminates water line use in northern climates), and the necessity of a shovel to clear the bottom of the trench (the dirt is broken up, and some, depending on density of dirt , will be cleared from the trench - but it's not a clean trench).