Personally I dont see the advantages of a theocratic society. The only advantage I think might be good is that there would probably be harsher penalties for sex offenders and other people that committ "moral" crimes. When a person hurts a child, or any of the meek of society, it might be looked at as a crime against God and actually punish them and keep them out of society.
Theocracy has many disadvantages also. This kind of government is very dangerous because it imposes one train of thought. It persecutes anyone that thinks any different than what is ordered. I dont see how successful a society is when it alienates a big chunk of people.
People are generally really passionate about religion so theocracy is a perfect way of contolling people with the voice of God. But really society always controls its people or we would have total chaos. The penal system tries to scare people into order...as well as punish people who fall out of order. I believe we live in a theocracy of sorts because our society is controlled by money. We have made money our God. Money controls every aspect of our lives. People are stigmatized and persecuted of sorts. You cant live in this society without money. We dont elect our leaders if they dont have money to advertise. Laws are influenced by lobbyists...money! Generally poorer schools have lower test scores...money! Our whole world is controlled with money, our God.