WEP is better than no encryption whatsoever, so evaluate based on what you have already. As an example, I'd love to use only WPA but can't because I've some legacy 802.11b devices that NEED WEP. Luckily, I've a spare WAP gateway router that is .11b that I use for the legacy devices. I put this WAP behind an 802.11g WAP gateway router.
I just wanted to let you know that WEP isn't bad, as long as you layer your security (MAC address authentication, turn off SSID broadcasting, change your WEP key maybe once a month, etc).
WEP DOES provide some level of security. WEP keys can be cracked (what can't???) but a few of my coworkers set up a WAP in a lab environment and the WAP was using WEP. None of us were able to crack it. One of my coworkers (who now works as an IT security engineer at DHS) approached his neighbor who also used WEP on her WAP and asked if he could assess her security. She said yes. My coworker had talked with her and knew she streamed music (she was a musician), so he knew her WAP would be somewhat noisy. He attempted to crack her WEP and was unsuccessful. The theory is that while WEP is crackable, not everyone is going to be able to do it and not every attack will be successful.
Also, the assumption is that WPA isn't crackable or is much harder to crack than WEP, which is a half-truth because if you implement WPA improperly, it is not as secure as it should be. The truth is that WPA can be brute-forced and the attack has a high potential of being successful when using a low amount of characters in the passphrase and when not using a proper mixture of characters.
Almost every single protocol known in the IT world can be cracked or has been cracked. When using WEP alone, you're leaving yourself much more wide open than using WEP along with other security measures.
Just my thoughts...
