OK, I'd like to try and sum up this situation because I just went through it all after doing my first build. First off, full disk encryption (FDE) on self encrypting drives (SED) is a feature touted by Samsung 840/850 EVO SSDs and Intel SSDs. This is different from the old days with hard drive PATAs, which I don't know much about and which I heard were pretty crackable.
In short, the above SSDs always are encrypting what goes in and decrypting what comes out, but unless you set a password for the ATA drive in the BIOS, that 'encryption' is blank and useless. Once an ATA drive password is set in the BIOS, the SSD sees it, and then truly encrypts all that goes into that drive.
Note: the ATA Password within the BIOS is in addition to and totally separate from the BIOS Password, which simply secures access to the BIOS and access to POST . . the BIOS password is easily cleared by simply clearing the CMOS on most boards. If you only set the BIOS password, you can easily remove the SSD, plug the SSD into another machine, and it's completely readable.
I did a build on a state-of-the-art ASRock Extreme 6 motherboard. Lo and behold, no ATA Password. This means that like all the countless millions of customers who bought Samsung EVOs and Intel SSDs, I couldn't use the hardware encryption. That meant buying Win7 Pro to use Bitlocker (with a performance hit and the concern that any software can be cracked/hacked) or using TrueCrypt (performance hit, software crack, plus ?? stability on SSDs).
So I wrote ASRock. In Taiwan, I believe. Within a week they wrote an updated BIOS, 1.07B, that has ATA Password capability.
I suspect they had it all along. So why don't they advertise it? Why don't motherboard reviews and comparison charts mention this feature given how commonly used Samsung and Intel SSDs are? Well, turns out if you use the ATA Password, power down your machine, and forget your password. No. One. Can. Help. You. Not Samsung, Intel, ASRock or the NSA, from what I understand.
So, I tried the new BIOS out. Turns out you can put individual ATA passwords on different drives (rebooting each time). So I tested it on my Samsung 840 EVO and my Intel SSDs. There is no detectable performance hit, because even without the ATA password they're encrypting, so no change in performance. When the SSDs are removed and put in another machine, they are either not recognized or are simply unreadable, even with some basic forensic software.
So if you're concerned about you computer being stolen with all financial data on it, or the drives being stolen to get your personal/financial data, this is a far easier and more secure way of protecting your data on an SSD than Truecrypt or Bitlocker. For hard drives, though, I have no idea. Please note: I did not extensively examine how many characters can be used for the passwords, nor what extended character sets can be used.