Hi
I didn't used much bugzilla but it's not good in terms of look and feel so we have rejected this tool for our project we still used Excel sheet for defect tracking it's very flexible to see the issues status wise easy to update easy to log and easy to generate the reports.
But only thing is version problem if at all any person changed the status of one issue it could be difficult to found when it was change if we dont aware of the status.
Srinivas