I would suggest that MOST people are happy to make that trade off. At least until your personal information is hacked and taken from googles servers.
To be fair, practically speaking, it's more likely that your "personal information" will be hacked if it is in your possession vs. when in Google's cloud.
In my case, it's not that I don't trust Google's cloud security. It's the unknown third parties they sell my info to's security that bothers me.