Many good tips already... So here's mine:
When i first started playing with paper wallets, i made a couple testnet paper wallets, loaded them with testnet coins and sweeped them with the testnet android wallet... Just to learn the basics on how to generate, print, store, encrypt, decrypt, sweep,... them. This way, chances of losing coins because you're still learning are slimmer.
If after playing with testnet paper wallets, you're still not completely sure about what you're doing, create a dogecoin paper wallet, load them with a small ammount of funds (freedoge.co.in gives you a couple dozen of coins in a couple of hours, so it's pretty "easy" to play with those)... This might be necessary because the bitcoin testnet isn't 100% stable, in my opninion the android clients don't always sync properly,...
The rest of the tips were fine
- download the sourcecode
- run it on an airgapped pc, maybe even in a live OS (live linux distro, nothing left behind on your PC after rebooting)
- print on a local printer
- use BIP38 encryption
- laminate
- store at 2 different, safe, locations
OR use a HW wallet