Good article ..
There is a slight potential security risk associated which is described here http://blogs.msdn.com/b/askjay/archive/2011/03/11/why-is-using-instant-file-initialization-on-my-sql-server-a-potential-security-issue.aspx
Some misconceptions are well explained here: http://www.sqlskills.com/BLOGS/PAUL/post/Misconceptions-around-instant-file-initialization.aspx
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HTH !
Kin
MCTS : 2005, 2008
Active SQL Server Community Contributor 🙂