Recently I had the opportunity to speak at the MN Project Users Group about using SharePoint 2013 for Project Management. Within the 2013 realm there are multiple options for Project Management depending upon what your overall needs are.
Ultimately during this and a previous version of the presentation I heard organizations are looking for different types of solutions for different types of projects. Light weight and low cost solutions for small and medium projects and more robust solutions for enterprise level projects. Personally what I have seen as utilizing SharePoint out of the box features (2007 to 2013 versions) works for those smaller and medium size projects. And those large projects that need a lot of oversight, visibility, time tracking, etc. you would want to use a product like Project Server 2013.
Now I am not a Project Server guru, but I do understand the capability of needing to roll-up projects for visibility. I also know that in the past Project Server has been a little clunky. However from what I saw from the co-presenter for this session made me become more of a believer of the product.
Here is the SlideShare for this event. Hope you enjoy it! MPUG SharePoint 2013 and Project Management