Macros is referring to full combos or moves (DPs,Fireballs) which is completely cheating, one button rolls and CDs is fine since a lot of the the console versions come with stuff like that. Even EVO allows one buttons 3K or 3P for ultras since that's default config.
EDIT: How do you feel about it?
Well, I think that how arcades have it setup is the way I feel it should be, I know not everyone agrees with me, but a macro to me is a pre-programmed combination, some are longer that others, but nevertheless it does what all macros are set out to do--
it simplifies the input no matter how you cut it. An extreme case would be XII's simple mode vs normal mode, but you get my point.
Years ago, I know we had this debate with DG on SRK right around 98UM. Some ppl will argue that it's the "timing" as pressing 3 buttons manually are the same (let's use '98UM's ABC=QMAX for example), which is true to a certain degree, but it eliminates any chance of "error" in pushing the buttons off sync etc.
A huge advantage? No. Is it a form of macro? Yes, IMHO.