I've been happily using Legacy FileVault on my Macbook since I upgraded from Snow Leopard to Lion. Today, I decided to switch to FileVault 2 and went ahead and clicked the "Turn On FileVault" button. Everything progressed as described in the Apple OS X Lion: About FileVault 2 support document.
However, I didn't turn off Legacy FileVault before doing this and was never prompted to do so by the FileVault 2 process.
Having let the process complete, all seems well. However, Legacy FileVault is still enabled for my home folder as confirmed by the fact that its still turned on in System Preferences ➔ Security and its also still pointing to
/Users/.binarybob/binarybob.sparsebundle. I'm assuming there's now a double-encryption in effect for both the entire disk and also my home folder.
So, is it safe to turn off Legacy FileVault now?