Done, just cleaning up the code for the pull request. I'll have it ready in a while. The only problem (other than the speed) is that the BIP38 encrypted keys are longer than the height of the pretty notes and the font is already pretty small. The original image for the note needs changing to accommodate. Also needs to change 'Private key' to 'Private key (BIP38 encrypted)' or something. My graphics/css manipulation skills are awful, so I can't really help.
Please split it into 2 lines like casascius suggested. Are you creating compressed keys or not? Also, make sure you have tests that tests your code.
Done. I modified the image to include the word 'Encrypted' below 'Private Key'. Also I changed the colour to blue for encrypted paper wallets to provide distinction between encrypted/unencrypted paper wallets - a version in the original yellow is included in case you really like yellow, just delete 'note_encrypted.png' and rename 'note_yellow.png' in its place.

In case you or anyone else doesn't know, to try it you can simply download the code by clicking the 'Zip' button github, then unzip anywhere you like and double-click 'bitcoinaddress.org.html'.
here's my address for the bounty

1X3XKkw7tnYSQknKPLqLrJkdMzyHoZ7Jf