I just installed 1.5.4 on two hosts (testing and production site) both with WP-Plugin and "rest of the domain" tracking and they worked out of the box. Relatively quick installation - creating an extra database is quite normal for a traffic analyzer, smooth running, no significant performance penalty.
(Only thing that might cause some headache especially on larger sites, is the fact that you have to include some script in any document to track - but that does not affect WP-plugin-only users, anyway.)
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