Well, I gave back the Traeger this week. I had a chance to cook a 14 lb top sirloin roast, a 1.5 lb batch of jerky, as well as a few dinners for the family - brats and burgers and whatnot.
Overall, my impression is that it handles smoking jobs well, and even some roasting tasks like that big hunk of sirloin. It also did real well at ultralow temps (150-175F) for making jerky. Ultrahigh temps and searing - not so much. The Traeger's just not made to put out temps beyond 450, nor a scorching direct heat of a kettle grill or a high BTU gasser. It puts out more of a convection oven type of heat.
The way that the pellets are consumed, I found that it smokes more at lower temp settings. The wood smolders when the cooker's below 275F. Above that, the pellets put out more heat than smoke.
I appreciate how quickly the Traeger gets up to temp thanks to the starter mechanism and the convection fan that stokes the fire. Within 10 minutes, I got clean smelling smoke and a properly heated cooker. That quick start is on par with a gasser, except the Traeger burns wood. My charcoal cookers don't get up to temp with sweet blue smoke for at least an hour or more. I did like that about the Traeger very much