I'm finally able to use this service, and its great.
I still find a desire to get a raw listing of top referrers, but other than that Google's system is great. Just the archival data is great, I have to erase my logs every other day more or less or the files get too big, this means I'll be able to see traffic totals over a longer period of time.
They do have robust search referrer tracking though, breaking things down by engine and showing you what your most popular search terms are. They also have what amounts to more or less a heatmap of where people are clicking on your site. Thats pretty useful.
It has loads of features for ecommerce site owners or other people who want to track conversions, most of these features will be lost on content webmasters, but its no big deal.
Right now it looks like one option they need is a favorite reports list that people can customize.
I only just started using this, when I get more time into it I'll probably write a long review, but until then I can say it looks like its definitely worth the effort to get in.
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