Considering FileVault usage on an iMac with OSX 10.6.7. Wanting to know more about strengths and weaknesses of Filevault with Time Machine, Parallels and Carbon Copy Cloner. Any negatives to consider before flipping the switch?

I'm considering FileVault usage on an iMac with OSX 10.6.7. Wanting to know more about strengths and weaknesses of Filevault with Time Machine, Parallels and Carbon Copy Cloner. Any negatives to consider before flipping the switch? Any information ?
Would specifically like to know:
Filevault impact on performance and application usability.
TIme machine impacts, and whether TIme Machine volume will also be secure?
Will a Cloned copy made with CCC be  bootable, or usable?
Any other negatives to consider before turning this thing on?
Thanks,

Filevault impact on performance and application usability.
FileVault encrypts the user's home directory only - it is basically an encrypted disk image that is automatically opened when you log in and closed when you log out. It does cause disk accesses to be a bit slower so it isn't a good idea to use an encrypted account with sound or video or large graphics files. I have no experience with it with Parallels Desktop but suspect that you'd notice a bit of a slowdown. Note: in the User's directory you'll see a Shared Folder. Since FV only encrypts the user's directory you can put data you don't need encrypted in this shared folder which won't be encrypted.
TIme machine impacts, and whether TIme Machine volume will also be secure?
There are issues with TM and FV but how extensive they are with Snow Leopard I can't say, once I realized that TM and FV hadn't substantially changed between 10.5 and 10.6 I stopped dealing with it. When FV and TM were first introduced my testing led me to recommend using CCC or SuperDuper! for backing up.
Will a Cloned copy made with CCC be  bootable, or usable?
Yes
Any other negatives to consider before turning this thing on?
Since FV is nothing more than a disk image - and disk images can fail - there are several problems with FV in my opinion. If an encrypted disk image fails it isn't possible to access any of that data. If you don't have a recent (undamaged) backup of the disk image and/or recent backup of the data within the disk image you are in a world of hurt. This isn't just a warning of possibility - this is a real danger that I've seen all too often at the shop where I have worked part time for a number of years.
At this time I strongly recommend that people who have sensitive data keep that sensitive data segregated from their general data and encrypt only the sensitive data or use other methods of locking it down such as saving on an external drive that is kept in a safe. Call me paranoid but I don't even keep all my sensitive data in one encrypted disk image. I use multiple disk images and keep multiple sequential backups. That way I might someday find that my up-to-date investments disk image won't mount but (a) I can go back a week to a backup and (b) that won't impact my up-to-date business records because those are in a different disk image

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