Unlike TEL, ethanol is hydrophilic, which makes gasoline blended with it more apt to be contaminated with water, and other water containing contaminants, this is particularly relevant for aviation uses and also reducing incidences of vapor lock.
TEL is also (more) rubber and seal friendly, other than the (very) high risk of lead toxicity, TEL blended gasoline is easier to work with and process than Ethanol blended gasoline.
TEL also acts as a natural lubricant of its own, the lead acting as lubricant, particularly on valve and other top end engine components.
This isn't really a defense of TEL - particularly not in road gas, while it was understood that exposure to large quantities of lead was toxic, toxicity of low dose exposure to environmental lead wasn't really fully understood until the 50's/60's, we also didn't really understood how long environmental lead lingered around until the 60's. Modern technologies have overcome much of the issues from ethanol in road gas, but there are reasons TEL is still used in AvGas.
TEL in AvGas was vital in reaching higher octane, and Ethanol is contraindicated in AvGas (at the last I looked into the topic) because of its hydrophilic nature - our ability (the allies) to produce high octane AvGas is one of the factors that won WW2, and use of TEL was a deciding factor in that.