Yeah, I don't see why I wouldn't just use Electrum. You can generate the seed from either the phone or another desktop / laptop computer and it uses the computer's entropy by default which is good enough for most people. The seed has to conform to a standard or a checksum.
It's good there are other options, but the source eventually needs to be published or no one else is going to use it.
1) As I said elsewhere in this thread, publishing the source code of the app is obviously a no brainer and will be done as soon as we are past the alpha stage (where we are now) and release the app publicly (right now, a few alpha testers play with our wallet using our money).
2) Using someone else's entropy (including Electrum's) always represents a significant risk.
3) In any case, an entropy generated by a software is not as random as an entropy generated through physical means (i.e. "physical entropy"), as you can see here:
https://en.bitcoin.it/wiki/Passphrase_generationOur wallet facilitates the use of physical entropy. When you use physical entropy, you have the guarantee that your entropy is truly random. You can't obtain that guarantee if you use Electrum's entropy (or any software-based entropy). Yet, obtaining that guarantee is crucial since all your secret keys rely on the randomness of your entropy.