Doesn't hold up.
Bitcoin movements are unidentifiable. The only conceivable trace is at an exchange and that tells you nothing about who any withdrawals get sent to.
You seem to be confused as to how the blockchain works...
In what way? (I am certainly not confused, I am writing an alternative client so am very familiar)
If I am a criminal then how do Interpol link my real world identity to some bitcoin addreseses? If they do find my mtgox account, and I have sent bought coins to another, freshly generated, address how will they find the real world identity of that address?
The blockchain offers no identifying information. Only where bitcoin touches the real world is a connection made and its pretty trivial to mix coins to break the financial link in the chain so real world connections are isolated from each other.
While the "bitcoins are anonymous" crowd are obviously wrong, it is not impossible to protect your identity even with a public transaction table.