PARIAH ZERO  Pros:

* Makes using Encrypted disk images (dmg) files easier.

* Pretty animations for locking and unlocking of images.

* Allows for management of encrypted disk images you've used.

* Has an "assistant" that can put various confidential info (email, chat logs) into an encrypted DMG.

Cons:

* OS X provides the basic functionality (AES 128/256 encrypted disk images) as part of the operating system. A lot of users will dislike paying for a product whose core functionality is provided for free by the OS.

* While it makes creating and using encrypted disks easier, it's not particularly hard to begin with.

* A fairly hefty daemon that runs even when all file "safes" are closed.

* DMG files created don't appear to be openable using the same password used for encryption. (ie. you have to have FileGuard to open the contents, even if you know the PW)  
(Version 10.5.3)

GORDON80  I tried out this secure looking program during the trial period using it internal and on an external disk. On the external disk I encrypted a folder with iTunes and Papers. The Papers folder one day had just disappeared just before the trial period exceeded and I created a sparse-bundle image for the new file I got from a back-up disk. The library in the iTunes folder crashed and I took an older one from the last back-up as well. I think the files will be damaged always when you turn of the computer while safe is open.

Now that the trial is over I cannot build new saves, as to be expected. What is annoying - I cannot change any file within those "saves". It means that I cannot use iTunes, because I cannot save anything without buying the high-prized license in the folder already created. I will delete it all and copy from back-ups into a sparse-bundle image that I now create on the mobile drive.

I would appreciate a special offer for students.  
(Version 10.5.1)

ANDREW SCOTT  It would be nice to clarify what advantages this product has over Apple's free Disk Utility, which has long had most of the features listed for FileGuard. Is increased convenience the main thing FileGuard offers? The price seems high in that case.

If you're thinking of buying you might consider Exces as well.  
(Version 10.4)