> Anyone know why I'd want to use this over dm-crypt?

    - mixing unencrypted with encrypted data (why encrypting object files during bulk builds?)
    - file-based, encrypted backups for free (including incremental jobs!)
    - passwords/keys per directory
    - passwords/keys per user
    - passwords/keys per group
    - (...)

People who like encfs/cryptfs will probably like this too.