Using Rally as your (single) defect tracker?

The rally obviously has some defect tracking options.

My question is: is it good / flexible enough to serve as the organization’s only defective tracker? Or is common defect tracking more common in another tool like Bugzilla or JIRA? (Perhaps use the Rally Connector to integrate them).

We are currently on Bugzilla, but are increasing the use of the rally. If Rally can do the work of Bugzilla, I would happily get rid of Bugzilla and you have another system that you could worry about. Has anyone done this?