In addition, Google's terms of service are worded in a way that gives me pause when it comes to uploaded material. Though the company notes that "what belongs to you stays yours" when you use the service, you give Google "a worldwide license to use, host, store, reproduce, modify, create derivative works (such as those resulting from translations, adaptations or other changes we make so that your content works better with our Services), communicate, publish, publicly perform, publicly display and distribute such content." While many of these terms can be traced to various parts of the company's offerings (text-to-speech for those with disabilities, for example), it still seems like a broad license for such a service. In either case, if you don't feel comfortable with your files being crowdsourced or used in such a manner, perhaps Google Drive isn't for you.
For now, I'm going to try using Drive for just my Docs organization. Folder creation and file movement is vastly simpler than on the Web, and it's certainly nice to have an easy to find link for important documents I use often.