I am a beta tester of Swapgate, and I agree with Musleman's privacy concerns - I think that people should be given the choice to stop the browsing of their shared folder if they want. If 7thElement isn't willing to do it, then I bet that sometime in the future, when Swapgate becomes more popular, someone else might try to write an external privacy patch. Remember before K-Lite had a built-in privacy option, there was an external privacy patch.
The main problem with Swapgate at the moment though is the length of the queues. Even when trying to download off someone with a green icon (T1 or T3 connection), it takes a very long time to begin. And I wouldn't say the song is that rare. But when there is multisource downloading introduced, this situation will improve.
So I admit, at the moment I do still prefer K-Lite and Soulseek, but it will improve so I'll hang on. ;)