What is the difference between the different levels of content protection (strong, stronger, strongest)? What effect will using these different levels have on security and speed (will it slow it down a lot)?

Got the above a previous forum post so I will assume it is correct .

If you want to enable it then start with "Strong" the delay is only going to be about 2 maybe 3 seconds. I used "Strong" encryption for a few weeks just because I am that paranoid. However I turned it off a few weeks ago. Also watch out if you enable it and you include the Address Book when you recieve a phone call it will not pull the name from the address book and it will just display the phone number.

thanks, do you have any idea what the delay would be on the "strongest" setting?

It depends on the amount of content. Unless you work for the FBI or CIA, strong should suffice.

Wirelessly posted

Not too sure since I didn't mess with strongest too much I think maybe 4 seconds.

Content protection also effect BBM, and some 3rd party from running while your BlackBerry is holstered/locked. So you may want to test it a bit.

160 bit encryption is very good, but 560 bit encryption seems a bit over the top for me unless you got some real sensitive data.

I might actually...

with content protection turned off...i noticed my memory cleaner doesnt stay enable whenever I do a restart...that sucks!

If you did, then you probably wouldn't be inquiring about BlackBerry security settings on a public forum.
Your security settings would already be set, and forced down to your device via IT Policy.