Forum Moderators: phranque
Several of the big name registrars offer genuine privacy options. "Domains by Proxy" is one service, but there are at least several others as well.
I don't know about whether or not private registrations are easy to hack, but I think that it would be less easy to find out your identity if you got the domain and the privacy option at the same time. (In other words, you didn't have the domain for a few years with no privacy, and then added the privacy later.) This would be my guess, anyway.
Bear in mind that many casual Internet surfers are clueless about many things and will not know how look up domain registration information with Whois. And most people who see Whois information and see that it lists a proxy will not look further. It will only be the really savvy or dedicated (and extremely motivated) snoop who will try to look further. Otherwise, they will just try to pry into someone else's site--someone who isn't using a privacy feature on their domain.
Do you think that anyone might be motivated to single out you in particular and try to find out more about you, or are you worried that some casual snooper will wander on by and try to find out about you? If it's the latter (random snoop), then personally I would not worry too much and I'd go with a service like NameCheap. But once again, I'm speaking as someone who doesn't pretend to know a whole lot--only that I know more than most casual Internet surfers (which isn't saying a whole lot, but...you know what I mean). ;-)