The licence isn't the only weird thing about truecrypt, the fact that they've been known to change their binaries (as I believe was reported on HN a while back) without posting a changelog, the fact that no one knows who the devs really are etc... all somewhat suspicious for such a high profile tool. But maybe I'm too paranoid in my paranoia.
Really exciting stuff. I kind of missed TrueCrypt when I switched to FreeBSD, because I had a lot of things saved to a TC volume on my network drive. I eventually figured out how to mimic TC volumes using FreeBSD's native geli encryption tool. If anyone is interested in how to do it: