If permitted to keep the knob and tubing in accordance with 394, I would argue not in the defense of a benefit, but code requirements would determine if you should be using arc fault protection.
We have done it because of the 6' distance issue. Occasionally all the K&T would need to be put on one breaker because of shared neutrals. Those installs usually were getting kitchen and laundry circuits added so most of the load was removed from the K&T.
Is there an advantage? Good question. Helps pass inspection? Maybe.