Does Traction Control Really Work w/ AOD?

I have an 03 with traction control and it automaticly comes on when you start the car. (you can disengage it by pushing the appropiate button) I got on it going around a turn and my car felt like it broke. and I saw the traction light come on. I assume it was stopping my car from fish tailing. I usually turn it off driving around and leaving it on during those rainy days :D
 
Its much slower straight line with trac on. Kills engine spark when wheels spin at all, so basically you stop accelerating for a second or two when aggressively shifting between 1st and 2nd. Sometimes between 2nd and 3rd too. Yuck. I turn it off unless its raining.
 
in my 01 the TC comes on whenever it detects wheel spin. whether it's straight, turning, reverse etc...

i just keep mine off even in the snow. i just find it easier to control the car without it.