Well, it took me a while to find someone who would actual trade moogles with me. With all the waiting and set-up the game's Mog Trader ended up disappointing.
First, I customized my mog's face in single-player. As cute as mog is, I was tired of seeing his white fur so I changed it pink. Then I drew on some different eyes so that mog looked like a ninja (-.-).
Then, I wondered why moogles didn't have any nipples, so I drew those in too.
When I finally perfected my custom mog, I sent him to a friend via mog trader's not-so-streamlined interface. Friend codes is bad enough, but having to disconnect and reconnect to wifi just so you can switch from receiving moogles to sending out moogles. If it were me, I would have made it so that you could just connect once, receive moogles automatically, and then choose to send out your own. It's also annoying that there's a screen that says something like, "Would you like to disconnect from wifi?" and you're given a choice of 'yes' and 'no,' but if you press 'no', you're just returned to a screen you can't get out unless you disconnect from wifi. What's the point of that?
Despite the mog trader interface annoyances, I eagerly awaited a moogle to come my way. A few days later, I received a moogle!
Except it was my own. I guess my interweb friend found my custom moogle so wonderful and perfect that he didn't want to make any changes and sent it back to me.
All in all, Mog Trader seems like such a tacked-on feature that they could have left it out altogether. My theory is that they added it in just so they could use the Nintendo Wi-Fi icon on their box art and trick people into buying the game thinking it was possible to play through the game cooperatively over Wi-Fi. Sneaky!