Both my guitars have jumbo frets and i've never played a guitar with any smaller frets.
What advantages or disadvantages do you get for having smaller frets???
Well people say that larger frets are easier to play on than small frets, creating an almost scalloped feel (e. you need less pressure to fret a good note) and jumbo frets also have more material for leveling and re crowing so would last longer than small frets.

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a disadvantage of jumbo/large frets that i have heard of is the possiblility of notes/chords going sharp if you push too hard. i have tried and it is true but i never have that problem with my usual playing.

personal preference thought. i like more of a medium/standard size fret.
to me jumbo is easy for playing faster or licks/solos where sometimes i like smaller for fast sliding chord changes. personal preference though

if you like smaller cause its easier and more comefortable for you then thats all that matters.
I own two strats, one with jumbo frets (Highway One) and another with standard sized (smaller) frets. The only noticable difference to me is when I play the Highway One it's a little harder to do slides and things like that, so I use my other strat for playing blues and stuff. I don't notice much difference in playing licks/solos. It's all personal preference, I personally like having both kinds, because they are suited for different things.