Be VERY careful with File Vault. Because of the way that it does things recovery can be difficult if you have to reformat. It took well over a week to figure out how to get the encrypted files unencrypted and moved to a clean disk. They had been backed up with Time Machine. There was quite a bit of time getting up close and personal with the command line in doing so and I was nearing the stage of giving up hope that my 4500+ pictures would be recovered. In the end I got most of them with the exception of the last couple week's worth so I was very happy.
My understanding is that some of the things that lead up to this near disaster with File Vault have been corrected (files are now encrypted on the fly and back ups to Time Machine happen on the fly as well rather than at system shutdown) but I'm very leery of having to repeat my experience with it.
I installed Lion on a Mac mini late last night (yeah, I gotta life don't I?) and will check the apps to see if it's broken anything sometime today. With heat indexes near 130 I sure as Hell won't be outside!
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