Daniel, what part of the process are you thinking of TIG with? What Materials? I would concur with the other posters that on the blade materials there is not much of an advantage but on hilt and fine detail work that will be fine finished there is nothing that can replace TIG. Want to weld any sheet stock for sheaths, scabbards or furniture? TIG it.
I have welded .030" silver with my TIG for a flawless seam. If you are welding iron or low carbon steel for hilting and you use SMAW, MIG or gas welds you will not have an invisible weld zone, the filler rod will be visible and will oxidize differently. I have even made filler rod out of the base material and used gas welding and that is when the real advantage of TIG is revealed. Almost any other type of weld will have some level of porosity, taking metal to the liquidus will evolve gasses. I use pure argon on my TIG unit and can all but eliminate gas bubbles. Some reading this will say that the other methods will produce porosity free welds, but I would tell them to weld it up, grind it smooth, polish it, and then bead blast it and watch all those gas bubbles that you have never seen before open up wide for you.
For everyday using knives, I can't see much advantage in TIG. But for high end, fine, jewelry type, metal work, it is worth every penny.