It is best for static content that will not change in the future.
It ensures that PDF format conforms to certain specifications which make it more likely to open and be viewable in the long term. The command to use is dvips -Ppdf -o mythesis.ps mythesis.dvi when converting a file called mythesis.dvi into mythesis.ps.PDF/A is the more suitable format for long term preservation than a basic PDF. PDF created from a PS file with embedded PS fonts will look good. However, there is an option to the dvips command that imbeds the PS versions of the default Computer Modern font when it creates PS. A PS file created this way has blurry (jagged) text when converted to PDF. The default mode of dvips is to use bit-map versions of the default Computer Modern fonts when it creates PS.
The commonly available (free) distributions of LaTeX, "tetex" or "texlive" for Unix/Linux and "MikTeX" for Windows, use a DVI-to-Postscript driver called "dvips".
PS output is generated from a LaTeX device-independent file (DVI file) through a graphics device driver.
Review additional information on how to use LaTeX to create an E-Thesis, including a thesis template. Postscript for printing, and PDF for viewing electronically, are popular output formats. This document is then processed by a formatting program to provide a nice looking document in the output format of your choice. Your working document consists of one or more text files containing your thesis content and mark-up tags, analogous to HTML.
LaTeX is a "document preparation system", not a word processor.