I often find myself explaining, step by step, what a trace is doing in each step. The constants and input values are straightforward; the instructions can be more complicated.
I'd like to suggest printing the docstring for each instruction as it's executed in a trace, for the reader. Needless to say, if there's some other use (besides being read by a human being) for the trace itself, this could be an option. But it seems like it would be almost universally helpful for any trace, especially for people unfamiliar with the details of complex instructions, like 'exec_do*range.