The 730N (dunno about 2014 but its probably similar) will display traffic on the map in yellow for slow and red for stop. Similar to stand alone GPS units where you subscribe to a traffic service. The radio also provides the routing option of automatically routing around traffic. Three green cars means everything is OK on your route, red means traffic is stopped somewhere along the route, orange means you are not subscribed.
As far as performance, you are typically into a traffic jam before you are alerted and find yourself routed around jams that have already cleared. It does a decent job with construction backups as those are typically longer duration.
Google maps, etc. on your smartphone or iPad has better performance, but not without issues.
I ride cross country with an iPad mounted within sight just so I can study traffic conditions on a large area map as I go.
Current: 2011 Grand Cherokee Overland V8, 2009 Liberty Rocky Mt V6
Previous: 2000 Grand Cherokee Laredo I6, 1979 CJ7 I6 Quadratrac