I am not ready to give up the concept of the T/tradition. In fact, I find it necessary to maintain in order to do justice to historical memory. There are Traditions with a capital "T" that become normative and then norm. There are traditions with a little "t" that are not necessarily normative, or the property of the dominant communities that are norming. These traditions are often forgotten or lost or so marginalized that they become invisible to our histories. Yet they were there. Along the way, people began selecting some of these traditions as 'worthy' to remember while others not so much, even up to the modern day. These particular traditions become known as legitimate "sources" to reconstruct our past, while the others are ignored or framed as unimportant.
We can see this with the field of Christian Origins. The 'orthodox' traditions are understood to be the normative and their traces (the four NT gospels, certain letters of Paul, etc) are perceived to be legitimate sources for our reconstruction of early Christian history, while the rest of early Christian literature is relegated to 'interesting in its own right, but of no significant value to the study of early Christianity'. In fact, the normative materials are given a 'historical' pedigree that is not granted any other early Christian text.
Clearly this needs to be rethought in a major way. What if we choose to examine the traces of the traditions that have been ignored and delegitimized? What if they became sources for our understanding of the early history of Christianity and Christian thought? This is one of my BIG questions as a scholar. Being attuned to it means that I have opened myself up to see things differently.
So I think that T/tradition(s) are important to study, and that we need to maintain the word because it gets at the very problem of historical reconstructions, normation, and our process of selecting certain traces of Tradition to be our historical sources, while not recognizing traces of other traditions as worthy of such status.