It definitely makes up for the traffic! Terminal 1 is great. If you ever get the chance (or the money), I recommend going into the United Club. They offer wi-fi, food, and places to plug in your phone (or any other device you have). Terminal 1 consists of All Nippon, Lufthansa (departures), and UNITED.
I've only been in Terminal 2 once, but that was when I was 3. Delta was the airline we were flying that day. Terminal 2 consists of Air Canada and Delta.
Terminal 3 is more for the leisure traveler than the business traveler. They have more cafes than fast food restaurants. I've been in Terminal 3 the most, though I basically only fly from Terminal 1 now. Terminal 3 consists of Air Berlin (departures), Air Choice One, Alaska Airlines, American Airlines, Frontier Airlines, Iberia (departures), JAL (departures), Jet Blue, Spirit Airlines, US Airways, Virgin America, and WestJet Airlines.
Finally, Terminal 5!!!!! Terminal 5 is the international terminal. The list of airlines from Terminal 5 is so long I would take an hour just typing it in here.
Overall, O'Hare is a special airport. Not just because of the city it resides in, but for the character only airline lovers can see the beauty of. I hope you like O'Hare as much as I do!