Have not seen this thread earlier, but i also recently started designing paper wallets, for another project (I sell them preloaded through a vending machine). while doing that, I had exactly the same idea (minus the bounty   ), so thanks for starting it.

I already like the 'winning' the design very much, but the more important achievement in my eyes is the proposal of a new standard format. Since I have experience with offset and printing in general, I will look at it in more detail later.

The nice thing about a standard sheet format is obviously:
- even more designs to choose from, because now people can make designs for this new format
- easier to fork bitadress.org and other tools to support it
- once a standard format is established and supported by common tools, it really could make sense to print 1000+ sheets in offset and really good quality.

For my project, the design has to be vastly different, because my paper wallets are supposed to work as a "propaganda tool". They have very clear instructions which make it much easier for newcomers to understand bitcoin, or at least make it less abstract when explaining. When I'll have some free time I will try to 'port' my wallet design to the proposed format, for now you can look at it in form of a preview PDF or a proof-of-concept fork of bitadress.org.
Both are uploaded here: http://bitcoin.ars.is