I recently bought this app after seeing reviews on MacBreak and NLMA. The app has lots of potential but has some glaring missing features.
For example, it would be nice to have a Safari-plugin which I can use to auto-fill webforms without having Wallet open (1Passwd has this feature). Another annoyance is the masking of password and other sensitive data within Wallet, itself. For example, in Table View, none of the information -- usernames, passwords, credit card numbers -- is masked (despite having Show Entry Informaton option unchecked). In Column View, on the other hand, everything is masked -- unless you open the content in a separate window, when everything becomes visible again. It's all or nothing on this app with masking.
Blowfish encryption aside, smart and consistent implementation of masking would do wonders to prevent that most insidious risk of someone looking over your shoulder. Next, I'm not sure why auto-lock doesn't have a 1 minute option. The lowest available option (5 minutes) is certainly long enough for someone to write down a lot of data.
After a couple of days of extensive use, Wallet gets a C grade. The app touts a very high-end encryption algorithm, but fails the common sense data protection test. Add the nuisance of needing to launch auto-fill URLs from Wallet, rather than directly from Safari, and you'll want to wait for version 3.0.
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