What are the advantages of using FireVault?

[mrsir2009]

I know it encrypts your hard disk, but what is the advantage of doing so?

 

[Hellhammer]

Prevents other people from accessing it. Admin password can be reseted to get access to the data, but encrypted cannot be accessed without the specific password. Fairly useful if you have some corporate or other data that you don't want other people to see.

 

[tootall]

are there drawbacks to using file vault? Decreased speed and file corruption??