My two Cents, from people in the know, dry flatting is quicker (so cheaper on time) which is why all the insurance garages do it now, and the technology of disks has come along way. I wouldn't say dry sanding is safer ie fine particales of dust to breath in and they don't taste great (many years of choosing not to wear a mask taught me that, will never make that mistake again "yum workplace asthma"). Wet flatting is used for a much flatter and better finish ie. show cars and anything else that you can think of that needs a very good finish. So more time spent the better it comes out. As to mess the dust is more harmful if you're spraying in the same area as it gets everywhere, wet flatting you can just mop it up or wash it away afterwards personal prefrence really.
So in total it's horses for courses really, do your research and choose one depending on time constraint finish and cost.