Yeah, i read that when I was using it (and got told off by our security people for leaving it running)... however, there was a paper on it being very easy to decipher what was being sent through you as a node.
I would not put much faith in it if you are doing something highly illegal. In terms of browsing this site, I don't think there's any risk to users.... sharing is where people are being attacked. All legal actions against sites are against the owners (which aren't very successful) and any ftp/http/warez going on by attached members.
Paranoia is almost free though; just bandwidth overhead if you can afford it
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