I want the ability to setup watching only wallets for public keys.  Specifically for Casascius Coins and paper wallets for which I don't control the private keys (short of breaking the seal).

I've searched this forum and apparently this functionality has been deliberately avoided as there's a fear that watching only addresses could somehow find their way it into our ordinary wallets and give us a false sense of control.  I don't understand how this is possible as I control which addresses I import into my wallets.

Anyway if I'm missing something perhaps we could introduce a new wallet designation where it's clear that these balances can't be spent without importing the private keys first.