Image trace has been fairly low fidelity since I upgraded from CS5 to CC, but in the last few years especially I've noticed an extreme downturn in the quality of the basic settings for live trace. In previous versions(CS5, CS6) the basic settings were high quality enough to provide good traces of artwork. I used to be able to live trace type without much of an issue if the image was large enough; I don't even do that now because even if it's set at 1500dpi the type will come in with irregular shapes or curves that should be straight/straight lines that should be curves.

There's a website called Vectorizer.ai that without even tweaking the settings provides a much better image trace than what Illustrator is currently capable of, there are also a lot more settings to optimize what you're going for as opposed to presets that don't always make sense to me or to other users I've talked to.

I would love to see this fixed because it's one of the few things in my workflow that has me considering using other products!

Thank you