The truth is Waze in Windows mobile is pretty outdated. Since Google bought them, it stopped updating on Windows (because Google has been boycotting Windows since ages ago, that's why there are no official google apps (but plenty of third party ones)).
But the default maps app does let you pick between different routes and gives you traffic estimates, time estimates and distances. When you tell it to give you directions to a place it gives you the list where you can pick the route you like the most, so it definitely does what you want apparently.
There is also "gMaps" which uses google's maps, if you insist.
Due to Waze being so outdated I haven't tried it recently... so I couldn't tell if it is working for me (though it was pretty buggy).
Now, you saying it is "pretty much useless" seems you only use your phone for the maps and navigation (which Windows does have)... I wonder if you are another of those trolls.