I didn't fully trust Mtgox fully at first which is why I opted to hedge 50% of my bitcoins instead of going 100% for HFT in gox. I did lose out a fair amount which was around 9BTC which was done when the prices where going low but now I am amongst with many in the same boat that might never see their bitcoins or fiat again.

I posted an issue regarding mtgox's collapse and how other exchanges work (proving full reserve instead of fractional reserve) as we might see in the future that other exchanges will collapse if they can't prove the funds that they have and have funds missing. So for now, I reckon cold storage and face to face trading within my community will be the safest option for now until safer exchanges ring fence users wallets.