Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I would say prudent is the proper word when taking the necessary measures to secure one's coins. I use similar methods. The key being that the keys never touch a networked machine. Oh, and plenty of copies. No need for physical loss of your storage media to result in an actual loss when you can make copies of your money! 
Indeed. That's the beauty of Bitcoin. You can make as many copies as you want.
I scan my actual paper-and-toner wallets, copy them to multiple encrypted microSD cards, hide them well in multiple offsite stashes, and then securely shred the original files and tear up the original printed wallets and flush them down the toilet.
I retain a few printed wallets with only a few satoshis in each in case I want to run out to an ATM and add coins to them without the time and hassle of firing up the secure machine and printing them up. Once I've verified that the transaction has gone through, I flush the new paper as it's already backed up in multiple offsite locations.
It may be a little more work than keeping them in an internet accessible device or on an exchange but it's worth it. You cant afford the compromise security on something worth so much.
That said, I do keep about a half coin split between my android devices in case I run short of pocket cash or want to make an online purchase.
Luckily, there are several 24 hour BTC ATMs in Toronto.