I haven't heard much about it, but I wouldn't trust it too much (if at all) because it's online.
All it would take is for the domain to be hijacked and then bitaddress.org could redirect to a phishing clone or just a different version that logs your public and private keys and then if you put anything in that wallet, they could take it with no recourse.
Electrum is a much better (and safer) option in my opinion.
If you're paranoid (like you should be), run it on an airgapped PC only used for that purpose.
Some old laptop or PC should do if you wipe it, put something like Ubuntu on it, download Electrum (and verify the PGP sigs), then install it on there.
That PC should never ever be allowed on the internet, and don't connect it in any way to any other PC other than to get Electrum on there/update Electrum.