If by traction control you mean VSA, then yes it would.
If it feels the front wheels starting to spin up it cuts the power, but you've got a right foot for that. I came from an EP3 and they don't have VSA, so I was used to not having it.
VSA also has an annoying habit of applying the rear brakes to stabilise the car if it feels it getting out of shape. That is one reason why the rear alloys seem to get dusty before the fronts (I also have the opinion that the rear pads might be a bit softer...). Some people have said they get better MPG with VSA off because of this! :lol:
I got used to the car for about a month, getting a feeling the weight of the car in bends as it handles quite a bit differently from my old EP3, but now I turn VSA off as soon as I get in the car. I've also had the FRSU done which has improved the handling immensely.
Oh and by the way, the anti-lock brakes do not get turned off with the VSA and cannot be turned off. Good decision IMO. :smt023