Unless of course the "Good" (non-fractional reserve) gateways had allowed people to redeem IOUs from other gateways before they realized there was run on; in which case their reserves (which includes IOUs from other gateways) are no longer sufficient to cover their own IOUs; despite being 100% funded.
It would still be their own fault, since they would not be managing their credit risk wisely.
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And if you can only redeem your IOUs at the same gateway that you received them...then wtf is the point of Ripple?
You can still trade them with others through Ripple. As long as the exchange in question is solid, it's much quicker, cheaper and more anonymous than using the banking system. If the exchange is really solid, IOUs would only be redeemed infrequently compared to the number of transactions. IOUs are what allows you to trade in fiat currencies on the Ripple network.
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And I find it pretty odd that much of your reasoning behind Ripple being a sound/safe system is that "I'm not gonna keep much money in it anyway"...so I guess it is pretty safe then, cause you didn't put much money in to lose... 
I think the system is solid, but I want to see the source first before I start risking large amounts of money. And any financial institution will have to earn my trust, regardless of what software they use.