just search MobileMe and watch the user ratings same thing with Apple Care just a fyi. I know it's too late but set up the pass code and enable 10 tries before it erases. yes there might be some ways around it but it will at least keep allot of thief's from getting your bank and personal info.
Remember that MobileMe encompasses A LOT of other services (some suck, some don't). Those other services (iDisk for example) are what's getting the ratings....
Users aren't rating just the Remote Wipe and Find My iPhone feature, as it's kind of hidden, and most likely used twice for the 'find my iPhone' (when you first get the account, and then when you lose the iPhone), and then only once for the 'Remote Wipe (when it's lost). I doubt anyone has actually tried the Remote Wipe (Macworld did, Google it).
Many of the MobileMe services/add-ons are done much better by other programs on the App Store. Consider MobileMe as a last resort security purchase (that happens to have a true PUSH email address).
If the Remote Wipe and Find my iPhone services were available separately (which I doubt they ever will be, considering the sensitive nature of the whole process), then it'd be a much different consideration (easier).
A family pack is 5 accounts, or ~$35/iPhone for our little world.
I'll bet that the OP lost that much in time alone, just explaining.....
Apologize for ranting/typing about this, but, um, you see what happens when the stuff hits the fan as you lose an iPhone.