Since many people complain that wizards do not help to understand their
system, here is a quick summary of this wizard actions, and how to do the
same by hand :

1) subversion repository creation ( if it do not exist )
$ svnadmin create --fs-type fsfs $DIRECTORY

fsfs was chosen over bdbd because it is more robust, according to trac
developers.

2) trac repository creation
$ trac-admin $TRAC_REPOSITORY_PATH initenv $PROJECT_NAME

3) integration with tracd
in order to use your new trac project, you need to add it to tracd config
file, in /etc/sysconfig/tracd. All you need is to add it to PROJECT,
and reload tracd, with service tracd restart.