There are quite a few rough edges still, such as the need for running the trac-admin python script in order to configure the wiki/project setup. There's definitely a need for an administrator web console. And the web pages don't look that good using Internet Explorer. Not so important for me, but could be annoying if we're going to let non technical people use the issue tracker.
I haven't gotten to really use the issue tracker. It's not like Enterprise Jira, but then again we didn't have a need for a full configurable workflow based issue tracker, only something simple.
We have currently been using SnipSnap as the wiki and I don't look forward to converting all those SnipSnap pages to the moin-moin based syntax that Trac uses.