Broadly speaking, there seems to be two paths of awakening to who (individual) and what (Spirit) we are. One is of focusing on - and noticing or invoking - what we are seeking, the other is of focusing - and working - on what is blocking what we are seeking. And most paths of course include both, in different ways, and with different emphasis.
Only noticing or invoking who and what we are
If we only do the first - going for noticing or invoking what we are seeking - the pitfalls seems to include missing out of, or ignoring, some knots that needs to be untied and some healing that needs to occur. It can for instance lead to a (partial or more full) awakening to what we are (awake emptiness and form absent of a separate I), functioning through an individual that still has a lot to work through, and who may not be aware of everything that needs to be worked through.
Some forms of self-inquiry fall into this category, such as noticing that we are not the content of awareness but awareness itself (and that the content is no other than awareness), and also the headless experiments.
Only untying knots
If we only do the second - untying knots - we may miss out of noticing who we are at a soul level, and what we are at a Spirit level. We may pass right through it, because we don't know what we are looking for.
Using both together, we reap the benefits of working through knots and stuck places, which naturally reveal who and what we are, and also noticing who and what we are when it is revealed, and then deepening into it.
The Work is a great example of an approach that includes both the untying of knots (the whole process), and noticing who and what we are behind the clouds created by the knots (question #4 and turnarounds.) And the same is the case with the Big Mind process, allowing knots to unravel at our human level, revealing what we are as Spirit (Big Mind.)
Untying knots works at all levels
One of the great benefits of the second approach, of working with knots, is that it helps us at all levels. It unties knots at our individual human level, allowing for a healing and maturing there, and for less stress and discomfort. And it reveals (more of) who we are, in our evolving wholeness as a human individual, who we are as soul (alive presence), and what we are as Spirit (this field of awake emptiness and form absent of center.)
We don't have to choose among developing as individuals or awakening as Spirit, and we don't need to deny the importance or validity of either. Both are an integral part of the process, and the path benefits and works on both areas equally.