I've been looking for a security solution too!, without any success I might add
Using the WM Password functionality helps control access (via the phone) if your phone is lost or stolen. However, if the person who now has your phone can use Activesync and a PC, they will have access to all your data (yikes!!!!).
The software above sounds like a good long-term solution. Short-term itdepends on you cleaning your phone remotely before someone has time to access your data.
Has anybody here used the software? And if so would they recommend it?