My personal peeves with CRM:
1. No support for actually closing the deal. (Full disclosure, this is partly why I created Mimiran Online Proposals (http://www.mimiran.com)-- to get you from "can you send me a proposal?" to deal closed.)

2. Too much manual data entry (SFDC, looking at you). Too much time and effort having to manually track, vs actually trying to sell. Then the VP of sales wonders why the reports don't look right.