Also how do you update to 0.5.19, is it just a matter of downloading it and installing it with the previous version still in place ?
Cheers
Yup, that's what you do. With regards to the above comment, MultiBit HD does not seem extremely stable with several prominent issues (eg. Transactions suddenly turning unconfirmed). Consider using alternatives such as Electrum.
But you have to introduce the wallet online at some point, what is the difference to keeping it offline on a usb stick to keeping everyting offline on an old netbook for example ?
If you were to be creating the wallet on an online computer, the wallet would be unsafe since any viruses on your computer would have access to your wallet by then. Moving it offline wouldn't help. In comparison, if you were to use a Linux LiveCD, the wallet would be created on a clean computer and with no internet access till you move your coins, the virus(if any) would have a small timeframe to steal your coins.
You can also keep the offline computer offline even when you spend your coin. Currently not possible with the Multibit UI however.
Would the 'keepkey' be a safer option?
Just looking for the SAFEST way to a few coins that i will not touch for a few years.
Cheers
Definitely. Hardware wallets are usually rather secure. An extremely cheap and safe option would be creating a paper wallet on an offline Linux computer. You can spend it using Mycelium. Just remember to keep multiple backups.