Poker Tracker works for tournamments too, but only at a few sites.
In general, I would say the number of sites that PokerTracker allows histories from is its only downside. There isn't a better alternative, so I shouldn't complain but when you play around at smaller sites there is a huge hole in your statistics when your PokerTracker data only includes mainstream sites.
And a heads up for PokerRoom players. Enable your statistics (Statistics/Enable Statistics on main screen pull down menus) BEFORE you start to play. I just realized that all the hands I have played there so far were not added to the PokerRoom histories database, because this was not turned on. So there is another hole in my PokerTracker data
