Gmail privacy concerns

Declan McCullagh discusses his reservations about Google’s in-private-beta Gmail system. His privacy concerns are well-founded, but I’m sure a lot of people are willing to give up a bit of privacy for something that would have as much perceived value as a free gig of e-mail space.
Should Gmail open to the public as is, I can still see myself signing up for it, though my usage of it would be limited to a certain scope. In other words, I would be my own privacy protection, and that may be the best users can hope for.