kdog,
Conditions this last weekend seemed ideal up to and above the notch. As time goes by and the snow begins to melt out (exposing more rock) things will probably get more difficult. As Richard mentioned you'll probably encounter more mixed climbing. Then again, there is a lot of snow up there so it wouldn't surprise me if you still have great conditions next month.
The decision whether to use the chute or the traverse is a judgement call. This past weekend most climbers used the chute. I saw and photographed two who used the traverse. A slip on either route is serious (likely fatal) due to the steepness of the terrain. I tend to think it's easier to slip while traversing (when your crampons may be somewhat sideways to the slope) than while going up/down the chute (when you're front points are thrust forward into the snow).
Here's what the traverse looks like right now:
<a href="http://www.rickkent.net/ViewerPlus/viewphoto.asp?ID=49709">

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Here's what the chute looks like from the same location (note however that you can't get a good feel for the steepness from this photo):
<a href="http://www.rickkent.net/ViewerPlus/viewphoto.asp?ID=49590">

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Here's the chute from above which better shows the steepness:
<a href="http://www.rickkent.net/ViewerPlus/viewphoto.asp?ID=49670">

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Additional photos are here:
<a href="http://www.rickkent.net/ViewerPlus/viewer.asp?FolderID=382">Whitney MR Photos 4/15/05-4/17/05</a>
By the way, it's not bad to be paranoid. It makes you stop and think. After two recent deaths I too was paranoid about what I would find at the Notch. I was actually somewhat relieved when I got to the Notch and could see exactly what faced me.
-Rick