How many bytes is a typical private key? If does not seem like enough. The seed is rather small compared to a typical bitcoin private key. The vowels can also be eliminated. I think I will keep regular client.
The seed is the starting point for an algorithm that (re)creates the private keys. As long as you know the correct starting point you can (re)create (or rather derive) as many private keys from it as you want. Due to the way its designed its just as secure as other wallets. In fact most wallets use this scheme called HD now. HD as in hierarchical deterministic.