I have used T-racks a fair amount, but I never felt I really improved upon a mix with it. Yeah..you can make things louder, and mess with the EQ and such, but I felt after *tweaking/playing* around with it for a good while, I liked my mixes unaltered by T-racks, as I felt the overall punch, dynamics, and "realness..."...if that is a subjective term!.....but I felt that those qualities suffered with T-racks, in exchange for just an overall higher average audio level. I have tried it many times, think the program actually looks kinda cool, and was really hoping for an improvement....but never once did I keep the final T-racks version.
Now...on the other hand, I love the Waves, L1 ultramaximizer, and the C4 multiband compressor. I feel that I ALWAYS get better results, getting a good mix first, and then a gentle nudge with the L1 to bring the levels up. Skip the normalizing...just use the L1. I'm always (or about 95%) happy with the L1 for *squashing* and bringing levels up. I feel that if you're are really needing to EQ your final mixes a lot, go back to the mix stage and fix it there.
If you are tweaking "rough mixes", or tracks recorded on lesser formats (like multitrack cassette, minidisk, etc), T-racks would probably make an improvement. But if you've got great tracks to begin with, for your mixes, I think you could do better than T-racks.