I view the concept of sending someone to prison as torture in order to extract a password; and torture is a violation of basic human rights. (I live in the UK by the way.)
I use TrueCrypt to store my bank details and other important information (passwords, etc.) (Though I have been meaning to getting around to hiding my collection of hentai artwork seeing as "drawings are people too." *rolls eyes*)
That said, with files you can at least specify key files that must be used in conjunction with a password to view the contents of a standard/hidden file partition.
And while I don't want to give anyone ideas on how they could utilize this for nefarious purposes (terrorism, etc.), what's stopping people storing these files on Micro SD cards?; if the Police raid your place you could at least swallow the damn thing. (Though if you did this frequently it would probably put a strain on your wallet...)