Look at every single snooker player (which requires much more accuracy than pool), and 95% of the top pool pros. If there wasn't an advantage to not only being low, but literally having your chin on the cue, then you would see many more top players in snooker and pool standing up more in their position, since it doesn't take as much effort and you can see the shot better (which is why you aim while standing up).
There are several advantages to being low:
1) It's easy to move your eyes between the cue ball and object ball without moving your head, which is crucial since you shouldn't have any head movement once down on the shot.
2) It's easier to see the straight line from your shaft through the cue ball, through the object ball. Using your peripheral vision, you can easily notice if your shaft is not in a perfect straight line, and if that straight line is lined up with the cue ball and object ball.
3) Obviously it's better for making sure your tip placement on the cue ball is exactly where you intend it to be.
4) Contact points on the cue. Many pool players feel that if your chin is touching the cue, that could negatively affect the shot. On the contrary, snooker players usually have 4 contact points on the cue to help keep the cue straight, through the stroke. The shooting hand, bridge hand, chin, and chest. It's a way to make sure you are aligned straight and consistently every single shot, and that your cue stays on that straight line through the shot.
IMO, if you are going to choose fundamentals to emulate, you would look at snooker players. That game requires the best possible fundamentals. If you look at pool pros, you'll find successful pros with pretty much any possible stance or stroking technique, because the game just doesn't require the same level of precision. With that said, the very top and most consistent pros tend to have very solid fundamentals. Some may argue that pool requires more "power" and more movement of the cue ball. Well, snooker players have to play pin point position also, on a 12 foot table. And at the end of the day, shooting straight is really the only fundamental thing you need to be successful at pool.
A great example of a snooker player with great fundamentals, who moves the cue ball better than pretty much any pool player, is Stephen Lee.
The disadvantage to staying really low is you lose depth perception, so you are relying on how you aimed when you were standing up to get the correct line for the shot, then once down, you are focused on keeping that line and shooting straight. Another disadvantage may be that you don't feel like you have as much room to stroke and follow through as fully, but that isn't an issue if your stance is correct.