4. You can schedule automated tests and test suites.
5. You can decide which test in the suite is run on which PC, so you can prevent overload of a single machine.
6. You can link automated and manual tests to requirements to get traceability matrices.
7. When a automated test in a suite fails, the suite continues versus the balance of the tests not running.
Those are the ones that immediately come to mind. There are others that I probably am not aware of.
With your item #3 - "you get some reports" - that really understates the case. One of the big things you DON'T get in TP is an OVERALL view of the status of a suite. You get individual test results. You can get the overall results from QAD.