What attributes make a good federation? What one do you trust personally? How much conspiracy needs to happen to get rugged? I love the convenience of fedimint but I'm paranoid about anything custodied

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Understandable, right now reliability and knowledge around who is running it is required. You're asking the right questions, and you should personally use the one you're most comfortable with, if there's one at all.

Though as we point out, it's best for very low valued amounts anyways, so it shouldn't be used for a lot.

For now to me the most reliable is Bitcoin Atlantis (FREE MADEIRA) federation. It looks like that it is the default federation of Fedi Bravo wallet and I added them to Mutiny, too.