tl;dr: Signal encryption is (almost certainly) safe, but if someone gains access to your unlocked device, all bets are off.
Security
Confidentiality Integrity Availability
It's even better than that, the Signal protocol provides forward secrecy, so even if they have access to your unlocked phone (and thus all the encryption keys), they can't decipher the previous messages. So if they have been deleted from the phone prior to it being compromised you're fine.
This is achieved by using a different key for each message.
So a big pile of nothing. If someone has access to your unclocked phone you're already fucked
Still some hope with the screen lock features
I mean if someone gains access to your unlocked device they can install a keylogger and whatnot, so I don't think this is a huge issue anyways
Yeah, this is a non-issue. That's like saying, don't keep things at home, if someone breaks in they can steal them...