Summary: Microsoft just released seven security updates to fix 23 vulnerabilities in Windows and other products. In February, Apple released a massive update that covered 51 vulnerabilities and also introduced an embarrassing security flaw. The contrast is striking.
What Microsoft can teach Apple about security response | ZDNet (http://www.zdnet.com/blog/bott/what-microsoft-can-teach-apple-about-security-response/4987?tag=nl.e539)

Interesting reading!

They are slow.

This issue was first reported on an Apple support forum on February 6, five days after the update was released. It was publicized to the Cryptome mailing list on Friday, May 4. It has been widely reported in the media over the past 96 hours.

Well...not that slow, depending on when you want to start the clock on when Apple "should" have known. (If it's from May 4, then 6 days is pretty good, in my books!)

10.7.4 is out today and has the following security updates, including the FileVault one:

About the security content of OS X Lion v10.7.4 and Security Update 2012-002 (http://support.apple.com/kb/HT5281?viewlocale=en_US&locale=en_US)