I have not worked much with this tool, but I have done a little playing around with it, and it produces some great information.

PeopleSoft Says:  TraceMagic is a utility that gives PeopleSoft system administrators, programmers and support engineers the ability to quickly isolate performance bottlenecks in SQL Statements and/or PeopleCode functions. It accomplishes this by turning the text-based, time-ordered tracesql file into a sortable-grid display, allowing the user to quickly locate system performance issues.

Check out My Oracle Support Case:  TraceMagic: Utility for analyzing *.tracesql trace files (Doc ID 1470578.1)