Microsoft Security Essentials -- Is it good enough?

I have installed MS Security Essentials on the computers of several family members and so far it seems to do its job. It has detected and stopped several attacks before they become infections.

Like so many of us who have been in the technology field for a long time, I am hesitant to put too much power in the hands of one vendor and MS is no exception. Granted, the state of computers would probably not be where it is today without MS but I like to keep my options open. I would like to believe because MS now has released their own security product that it will be great because of the negative press a failure would bring them. But, I do not know if I am ready to put that much faith in their hands. From some of the testing I have seen, MS Security Essentials seems to fair ok but I guess time will tell.

What do you think about MS Security Essentials and what would you recommend to those looking for a free or low cost security solution?