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Disabling Java is a waste of time unless people disable flash, deinstall other Adobe products and most other browser plug-ins. Yes, there is a problem in the Java virtual machine, but the VM doesn't run itself. It requires malicious java code. To get that malicious code a person must surf to a malicious website or be redirected to one by someone trying to get click revenue for porn or something along those lines.

The important thing to remember is that surfing to malicious sites is risky with or without Java enabled. Currently it is more risky with Java disabled, but that will change as it has before. The actual problem is VM's that download and run code. Flash does that and programs like Adobe reader (downloads and runs postscript). Certainly true with Javascript (no relation to Java). Running code in a flawed interpreter can lead to memory corruption and an exploit. Does anyone believe Java is the only VM/interpreter with flaws?