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Battery life is what killed the trace and tracer for me. Not a fan of flash so always had them on low constant - they'd be indicating amber after two commutes and would die half way through the fourth. Also didn't like the elastic protective band that covers the USB port - was fiddly and felt like it wouldn't last. I now have the Blaze, which is pricey for a rear light but lasts around two weeks on low.
Are you a sexually frustrated male reaching middle age and wearing cargo pants? If so exposure.
Talking of exposure, my trace battery seems to be dying when left unused for what I don't think is that long a time (I've noticed and charged it twice in the last couple of months, without using it for more than 5 mins in all that time), battery death or short?