you can use the seed to recover your wallet .
Of course it's good to be able to recover without trustedcoin, but that's the point of 2-of-3 (compared to 2-of-2), and giving another party sole access to the third recovery signature.
Requiring both your private keys be in one place, as Electrum advises, seems to render multisig useless...
Right?
Who says you need both your private keys in the same place? Split the seed in half and give half to a trusted friend. You'll only need it for recovery.
The local wallet only stores the first private key and it's encrypted.