Trace Elliots of the new millenium are designed by Paul Stevens, the guy who designed the legendary Trace V8.
The circuit boards are made in Essex, I guess the cabinets are too, though they may be manufactured at the peavey/Trace HQ in Corby, Northants. I've spent several hours on the phone talking to the MD of the company who does the PCBs for Trace and I can guarantee that the build quality will be second to none. Yes they had a few early production glitches but they're definitely sorted now.
As Buzz said, the stigma is really attached to the Gibson era stuff (1997-2002ish) where they let buyers purchase cheaper, inferior components which led to poor reliability.