Please suggest me the advantage of using / whether it would be beneficial If I use botnet traffic filter feature of ASA in comparison to cisco IPS.
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I would prefer the IPS solution since you can handle a larger array of threats.
Last thing I know about the botnet filter for the ASAs this solutions is just denying traffic to known botnets - so it does not stop your PCs from getting infected just prevents that the "talk" to botnets.
With an IPS you could prevent infections depending on the way they arrive in your network and additional secure against other threats. So my vote would be for the IPS or if you can spare the money both