What are the advantages of rooting wildfire s?

iRoot might work too for rooting your phone, it's a windows application that somewhat does '1-click rooting'.

Rooting a Android device basically gives you system level (A.K.A Super User) access to files on your device. Note that you will probably have to S-OFF your device in order to root it first.

Instructions on how to S-OFF your device are here:

http://forum.xda-developers.com/showthre...

Benefits of rooting usually allows:

• Installation of custom ROMs via custom recovery like ClockWorkMod, TWRP (Team-Win Recovery Project).
• Custom flashing and installation of custom kernels which can improve overall performance of the phone.
• Being able to use apps like Root Booster (I've only tested this on a device like the Samsung Galaxy S5 but not other devices like HTC.) which requires root of course to use the app.

Remember that unlocking your bootloader or S-OFF will void the warranty on your device. But your device probably doesn't have warranty if it's past 1 year so nothing much to worry about :).

Rooting by itself will not increase the performance of the phone.