It is one of those Love/Hate relationships

I am coming to really like swaving.

• It allows the production of very fine, very consistent, very tight fabrics. 
• Minimal stress on the hands.
• The knitting tools are very compact. 
• The knitting implements are not sharp.  One can work very fine yarns into very fine fabrics with tools that are not very pointy. 
• Swaving is very fast. 

Swaving has some real downsides.

• "Lace stitches" are difficult.  
• Decreases are so difficult that for cuff down socks I switch back to sock needles for the toes.
• Repair of mistakes is difficult, NO!, I mean really difficult. Picking up stitches after frogging is difficult.  On the fabrics where I really need them, I have not been able to make life lines work.
• Soft fabrics with loose gauge are difficult.  
• It requires a good knitting sheath with a needle adapter that allows easy rotation of the needle/prick.  the needle adapter may have to be oiled or greased - that means gunk on the knit object.

I am sure that I will find other issues, as I have not tried a large object like a sweater yet.

On balance, the speed of production, ease on the hands, and beauty of the fabrics wins.  Yes, it is the right way to knit socks and gloves.