I think everyone here has pretty much all the major points already covered. Yes there are advantages specific to ground blind hunting and tree stands. I will just repeat what the others already have said. Both work well. It depends on the location you are hunting and the geographical and vegatative properties of the surrondings. As pointed out a tree stand doesn't work very well in a young pine forest. First off it is a problem putting it up then there is the visibilty factor which will be next to nothing in a young planation pine forest.
In mature hardwoods it is very tough to beat the visibility and stealth aspects (scent benefits, above eye level, ect...) that you get in a tree stand. However if your up 25 ft in the tree and the deer are staying out of range and are starting to walk away ist pretty tough to get out of the stand and stand to stalk them. While in a ground blind that can be easily accomplished and as a matter of fact the doe I got this year happend just that way. I in New York's southern zone so its shotgun only where I hunt. A group of does were walking aand feeding about 130 yds below my ground blind (I have a smooth bore and shoot rifled foster slugs) when I was sitting in. Then they slowly walked across a drop off on the hill. I got out of my blind and walked very slowly down to the top of the ridge where the drop off starts. They were about 50-60 yards below still browsing on the small saplings in the area when I took my shot. It would of been near impossible to get out of my Summit Viper to due this. I hunt both out of tree stands and ground blinds. I have 7 ladder tree stands on my property, 2 wooden ground blinds and my Summit Viper and during the course of a deer hunting season I use them all. It just depends on the situation.