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OK if you lose your phone all you have to do is change your Gmail password and this flaw no longer exists.
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Is anyone really that surprised that putting your credit card information on a cell phone is an unsafe thing to do?
[Beat Dead Horse]
If you'll notice, all of the exploits require that you DON'T ENABLE YOUR LOCK SCREEN.
Even if you didn't use Google Wallet the nefarious individual would have access to all of your personal information if you DON'T ENABLE YOUR LOCK SCREEN.
Do you see what I'm getting at?
[/Beat Dead Horse]
Haha I don't care if people read my e-mails, I have nothing to hide in there
That's not the point. Within a few minutes of looking through your emails someone could easily find your home address and the next time you won't be home.