There are some other realistic advantages of having an employee. For one thing you become much more efficient with your company time. It means alot more to do a "favor" for free when it's costing you bucks for the employee who's with you at the time. You're forced to pay more attention to the little items that add up. You certainly avoid standing around at the supply house making your list up as opposed to calling it in advance. Oh, and forget about the scenic route to the job.
All in all I think it depends on the work you're doing and where you want your business to go or not go. One drawback for sure is you can stay alot slimmer alone than having to take regular lunch breaks with an employee.
Andy