Fundamentally, we don't want any hardware on-premise at all. What we really want is some kind of real statement from the github guys that speaks to all of the issues raised here (encryption, theft, malicious injection, auditing, the "honeypot"/juicy target problem, etc?), as I suggest to PJ below.

I'm guessing that's not going to happen, so I suppose our options are the status quo, host in a less-conspicuous location and manage our own security (as best as one can in a hosted environment), or go with the crowd and seek safety in that quasi-anonymity.