A large class of attacks are spoofing / MITM attacks. If a server is compromised the attacker can trick users into sending money to him. What would make sense for me is to run bitcoind on servers through a secured connection, like electrum. But Electrum lists some servers run by people I don't know. Instead I would like to easily run my own server. Integrating server control (SSH) into a HD wallet is a very good idea. You only need one master key on the client IMO.