The way I see it is that Vinnie has come forward and stated that Bearshare does not share personal info,or report back with any info.The software additions to the program can be removed.
If you still are not sure then use another servant,there are many and most are equally as good but its down to personal preferences.
Personally I use Gnotella and Gnucleus,but also use Bearshare,limewire and Phex from time to time.
In the end its down to you,if your not happy using bearshare then dont,but with the 'spyware/adware' removed its still a very good program.

I hope this thread doesn't start a flame war,its my opinion and i'm just trying to help another user out