I've done coved panels on the table saw. I used my older craftsman tablesaw, and I screwed a wooden fence diagonally across the table, right into the aluminum table. It was great fun, and fast to make coves. The only drawbacks I found were:
(1) rough finish, obviously. Need to sand, and thus you ruin any chance of a crisp edge at the top of the cove.
(2) Not easy to get the cove lines to match up perfectly square. It depends on the blade staying at the same exact height, and the piece being completely flat and held tight to the tabletop while cutting.
(3) need to do several passes, but that's true with any shaper too on a big cove cut.
I'm not a cabinetmaker per se, but I'd say this technique is fun and easy for utility-grade frame and panel doors, which is what I was doing. Not for the finest work, obviously.