With a TrueCrypt volume or other encrypted file solution on top of Dropbox, you have to resync the entire multi-GB volume any time a single file in there changes, since to Dropbox it's just one big file. (Another option is to use something like an OS X sparsebundle -- encrypted data banded across many files -- but God help you if you have two computers reading/writing from that sparsebundle at once.)
I've started using SpiderOak and it is quite efficient even though the data is encrypted such that the server admins couldn't see your data even if they wanted too. https://spideroak.com/engineering_matters SpiderOak also offers two-factor auth. (The SpiderOak UI, however, is fairly atrocious.)