I am currently using Qt Creator 1.3 for my Qt applications. I know it uses jom for make step which is better when we have multi core processors. But besides that what are all the advantages of using both the IDEs? Dis advantages as well? I am using CL compiler though for compiling my applications. Is there any other specific advantages and disadvantages of these IDEs?
If you're only working on Windows I'd say it boils down to preference. Otherwise, the clear advantage Qt Creator has over VS is that it's cross platform and moving platforms while keeping your IDE is a clean winner.
If you only work on Windows and have experience working with VS, then you might be more comfortable using something you already know.
Obviously Qt Creator is a lot more Qt-oriented. Every common operation while developing with Qt is bound to be easier in Qt Creator since it's primary goal was to be a tool for developing Qt applications.
Even debugging, which puts VS on top of others, is becoming argumentative when comparing it to Qt Creator, since recently almost every Qt class has a customized debugging representation (read more here).