Truecrypt is far from done. But wouldn't be the fact that it's open source be enough for you to deem it trust worthy? Of course not, as recent events have demonstrated.
Although we all have reason to believe every single encryption tool out there is compromised, where does that leave us? Paralyzed. IMHO, we won't have 100% trustworthy software ever and we're better off using what we have then not using anything at all. Remember, in this thread we're talking about our privacy, not some top-secret project for which developing a encryption tool from scratch would be affordable (that'd be cool though).
https://www.grc.com/misc/truecrypt/truecrypt.htm
Although we all have reason to believe every single encryption tool out there is compromised, where does that leave us? Paralyzed. IMHO, we won't have 100% trustworthy software ever and we're better off using what we have then not using anything at all. Remember, in this thread we're talking about our privacy, not some top-secret project for which developing a encryption tool from scratch would be affordable (that'd be cool though).