The question I have is largely of containment, given the potential delay between the time a GMO product is introduced to the market, and the signs of health problems appearing. If by the time a serious problem is discovered, the genetic material in question has spread to the entire gene pool for that species, then it becomes extremely difficult to address. If the unwanted presence of a modified gene prevents farmers from labeling their product organic, or exporting to certain countries, as was recently the case with Oregon wheat farmers and Japan, then it's currently having some very real consequences for people which shouldn't be dismissed.
I'm all for progress; I'd just rather let others be guinea pigs when possible, and always keep an exit strategy.