While the Google Desktop application is quite a feat by Google, I just think (like many others) that there are too many security risks and flaws in the current version that just render it useless.
After reading Franci's post I quickly realized all of the security holes that the Google Desktop opens up and uninstalled the software. In reality, I didn't even use it...I still opted for Lookout to search my email...why? Well, because its not browser based and its right there in the application I need to search email for.
I would suggest that everyone take a step back and determine if the security risks are worth the ease of searching. Personally, I don't.