We had (ex-)Scotland international Jim Leighton as fourth choice GK at the time too! [edit - I just checked and he was still playing for Scotland at the time, as his last international game was 1998!]
It's funny that people always cite Tracey's unpredictability; I always thought he was the more reassuring of the two. In terms of 'errors' (i.e. dropping a catch or letting a shot through his fingers), I'm not even sure that I can remember a single one from Tracey in his 13 years at the club. Kelly was more prone to those basic clangers (at home to Chelsea on the last day of the season in 1993 was an example). I suppose with Tracey, people are thinking about the occasions when he'd fly out of the box (e.g. Spurs away, or the Battle of Bramall Lane) and get sent off (and probably his off-field persona). Either way, you're right that both were truly fine goalkeepers - genuinely both in the top five in the country at the time, and leagues better than Chris Woods. Brave, commanding, fantastic shot-stoppers and both regarding quite correctly as club legends.