The 150/152 is a fantastic little airplane. Esp. the 150 with the 40 degrees of flaps. It suffers from being the yardstick to which everything is compared, but there's a reason they made so freaking many of them.
With that said, and with the caveat that I quite agree with Waco re: Luscombe, etc, the Traumahawk is a fine little travelling airplane (provided you're not in a hurry). It'll walk away from the 150, and crawl past a 152. What little room there is is more usable, too, and it has the usual Piper virtue of being simpler than dirt. It will likely be cheaper and lower time than a "comparable" 150/152, as well. From what I've seen, the major "gotcha" with PA38s is that a lot of them have been owned by dudes who couldn't afford to have an airplane, so they've sat outside, unloved and unflown for years on end...which is actually worse than flying the wings off and trying to pound the gear up in to the fuselage 50 times a day as a 152 has likely suffered. If you can find a good one (and there can't be many left), I'd give the slight edge to the PA38 if it's just going to be used to fly from A to B. If you're considering short or unimproved strips or any kind of training, though, the 150/152 is MUCH better, for all sorts of reasons.
PS. If you should happen to stall (or God forbid, spin) one, DO NOT LOOK BACK AT THE TAIL. Don't ask me why, just don't do it.