Flying high they rid the need for every aircraft to carry RADAR. Very effective aircraft, and one of, if not the most important aircraft in air battle.
The Shackleton was used as an AWAC, the Nimrod was an AWAC, the Hawkeye is an AWAC. But as I said the E-3 Sentry, which is based off the 707 airframe is the mainstay AWAC of western forces.