I am from the US but I have lived in Argentina for over a year. While it is not as safe as say New York City or London, it is relatively safe for Latin America. There is some petty crime, however. Pickpockets do happen but, as long as you use common sense (i.e. don't wear expensive jewelry or flaunt your camera), you will be fine. Also, some neighborhoods in Buenos Aires don't have streetlights, so make sure your hotel or apartment is in a well lit area if you are going to be out late at night. Recoleta is my recommendation. During the day, all of the popular areas of the city are perfectly safe.
Also, once you leave the capital, you will find that the rest of the country is very safe and the people are very hospitable - especially in Salta and the Northwest Provinces.
Just yesterday, the Today Show did a feature on Buenos Aires. You can visit their Web site to see some videos of the city. I think you will love your visit here - don't let safety concern you!
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