yarrr, we set it to yes. normal traps are not ment to work because they can be far too deadly. think hitting a cage trap in the main hall of your fort in adventure mode. stupidly powerful. but nobody could seem to get even pressure plates to work, and they are ment to be fine. this means that all those things you can do with water and magma and timed mechanisms seem to be out.
also, tamed animals will either all die or dissapear. any named (EDIT: named and not tame) creatures in cages will stay. so capture things like crocodiles, GCS, batmen, goblin invaders, berserk dwarves and elves, and cage them all up and attach them to levers to add fun to your adventuring. levers and everything they attach to including cave in devices work fine. to get a wild animal to have a name, you need to feed a dwarf to it. once it has killed the dwaves will name it. you then need to recage it to make sure it stays. you can do this with carp in 4/7 water. which would make an awesome encounter.
remember the "I CANT HEAR YOU OVER THE SOUND OF ME DRILLING HOLES IN ELVES!" thread. an adventurer can use anything as weapons. so get those adamantium ballista bolts and serrated discs for throwing purposes, its fun.
waterfalls are nice but tend to kill fps, which i find unbearable in adv mode. also, water pressure behind locked doors is allways fun. and you can knock out champion dwarves with cave in dust to trap them in cages so your adventurer can find and release them. its nice having champion hammerdwarves in full adamantium plate as friends.
and dont make things too fatal. its annoying just dying over and over. and remember dwarf armor does not fit humans or elves, and vice versa.