What are the advantages and disadvantages of different treatments for puncture wound of the foot?

Depends on injury. Irrigation, foot soaks and antibiotics for lesser/cleaner injury. May need irrigation and debridement for dirtier wound, plus tetanus and antibiotics. Diabetes, vascular dz and other factors may complicate this.
Exploration. Tetanus status should be up to date. Other than that, degree of contamination, possible radiologic imaging, wound exploration, removal of foreign bodies, drainage if required, surgical repair of damaged structures, appropriate antibiotics and follow up care.
What treatments? Hard to answer without knowing the injury, location, cause, infection/no infection, size of openings, etc.. In general, keeping the puncture wounds very clean to prevent deep infection from causing problems. Often include careful removal of damaged tissues, cleaning and dressings changed regularly. Antibiotics often used due to poor circulation and possible infections.