Well spert I certainly don't have your background in chemistry, but I fail to see how riding around on top of 10 to 30 gallons of gasoline is any safer. Sure hydrogen is combustible (aka the Hindenberg) but so is gasoline.

And can't you also run electrical current through WATER to separate the hydrogen and oxygen?

The spokesperson for GM (which is set to release a hydrogen vehicle by 2010 and ALREADY has the vehicle which they let Glenn Beck drive around NYC) said that's what they envision. Fueling stations where a large electrical current is run through WATER to "produce" the hydrogen.