Your comment is not entirely correct in my opinion. The point here is that *after* a FileVault disc image in opened, who can access it?

In my opinion knowing the admin password should not automatically grant you access to the encrypted homes. What would it be the point of securing your home directory when it is just a matter of resetting the admin password to access your home?

To me encrypting your home means that not only you secure your data fron network related problems, but most important fron the physical access to your computer.

What security would be to start up your computer fron an ipod and access all your data.

The point here is whether it is correct or not that after a user logs in and opens his FileVault image, would that image be granted to anyone having admin password?

Note: the FileVault option is supposed to protect you data, and if you forget your password there is no (easy) way to recove your files.