To answer your question - no. In fact, if anything the opposite is true. If I have good traceability granularity, the process is much simpler. I don't need a separate process for dealing with issues when the granularity is too large.
With fine granularity, the CM tool becomes a good communication tool. Of course the tool must be able to take advantage of the granularity (such as CM+ does, for example). If granularity is too broad, the info becomes more meaningless, and less useful, and therefore less used. That's when process starts falling apart.
I agree with Joe although it is also true that some of the best tools do come with some complexity. This especially true when you manage multiple variants in the code using complex streams and branches. Powerful tools often have complex features. In that sense, SCM complexity can be directly proportional to the power and capabilities of the tool!
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