What are the advantages and disadvantages of Nick as a narrator in The Great Gatsby?

The
greatest advantage of havingas a narrator is that he's sufficiently detached from the otherand
the glamorous world they inhabit, which gives the reader a disinterested perspective on events
as they unfold. Although he knows all the other characters quite well and is even related to
some of them, he's not quite part of their social sphere. This means that he can act as our
trusted guide to a rarefied world of gilded opulence that most of us would never get the chance
to experience for ourselves.

Nick may not be a fully paid-up member of the
smart set, but, like the reader, he's still deeply fascinated by them all the same. His status
as being in this world but not of it gives him a privileged insight into the goings-on of the
moneyed elite while still allowing him to retain his fundamental honesty, integrity, and
Midwestern decency.

The downside of Nick as a narrator is that he gets a
little too close to. This has the effect of romanticizing his portrayal of a...