I've only ever worked on company internal systems rather than public-facing or shrink-wrapped systems, but here's what I've found: all of the bug tracking tools I've worked with, no matter whether they've been bought in or home-grown, have been loathed by their users. (The bought-in systems have been: PVCS (now Merant) Version Tracker, FogBUGZ, and NetResults ProblemTracker)

Developers hate them the most, because they always think they could write a better system themselves. Testers either hate how much data the system forces them to capture, or hate how little data the system allows them to capture, or hate the format the system forces them to capture it in. Project Managers hate not being able to get summary information in the way they like it, so they persuade the DBAs to let them use Access to run their own reports against the underlying database. The Business tends to complain least, because they're paying attention to the application being tested, rather than the bug tracking tool.

The uniformity of dislike tells me that it's probably the *process* of tracking bugs that people hate more than the tracking software itself.

The other correlation I've noticed is that, no matter what the bug tracking tool, the success of a project is proportional to the number of bugs raised.