I would like to add my voice - my cheap phone's cosy 2GB internal memory (well, 4GB, but Android takes 2GB) is not enough for my frequent usage of Evernote, especially when attaching PDFs and high-res images. Equally, my cheap contract of 500mb/month is not enough to download my notes on the fly. Considering Evernote premium allows 10GB of notes/month, it's easy to see why this is an issue.
As for security concerns, I don't see why the notes couldn't be stored in an encrypted file on the SD card. Surely this is just as safe as on the internal memory? Even if this isn't possible, it would be nice to have the choice - personally, I do not worry over the security of my German notes, provided they are always there.