Bill Graziano, SQL Server MVP and member of the PASS Board of Directors (http://www.sqlpass.org), has released a utility that will read SQL Server 2005 traces and summarize them in the same way that Read80Trace does. His newest version has a GUI to read and query the trace. It will also group and filter by Application Name, Host Name, and Login Name if those are in your trace file.
It's a .NET 2.0 executable and no installation is required. There is also a command line version of the tool. Check it out at http://www.cleardata.biz/cleartrace/.
Be sure to let me - and Bill - know what you think of it.