Informed decision? Uh.. what are you scared of?
Security is really hard to place a value on for me. If I pay for it ( either through money or convenience ) and don't end up needing it I feel like I am wasting time/money. But if security saves my butt I feel like it's well worth it. So I always have this weird dichotomy going on in my head.
Security sales tactics are normally based on fear. I would prefer to have some sort of probability measurement so I can understand my exposure to a given security threat before signing up for it.
The authenticator is free, but I don't know how much of a pain in the rear it is to use. I need to gather more information. Though looking at the FAQ it seems like rooting your cellphone increases your risks and I always root my phones. I just like the freedom that gives me with my phone.
Sorry for the long post. I appreciate you warning about accounts being hacked and the authenticator. I just need to gather some more info on the subject before linking an authenticator to my account.