I've been using FileVault on my powerbook for about 4 months now, with no file corruption so far. I find it to be the only way to conveniently protect sensitive information that may reside in multiple places in my home folder (mail, ical, as well as documents). Saying this, I would not use it without having backups (I back up to a portable HD, which synchronizes with my G5, which is also backed up to an external drive).
I also echo the previous comments - if it is simply a few files or documents (or even a lot that can reside in one location), I would use an encrypted disk image rather than using your entire home folder.
Edit: I should note that for half of the time I used it with Panther, the last 2 months have been with Tiger