BTW arent you afraid of HDD fails? Cold storage should be made on some durable device.
By durable, do you mean besides digital and paper backup. My impression was that those are sufficient for recovering from HDD failure.
Those are sufficient indeed. You also need the offline computer if you actually want to access your stored bitcoins. So your setup is sound and perfectly normal:
- Online computer with newest Armory, and a watch-only wallet.
- Offline computer with some old version of Armory (was new when installed, but that was long ago!), and the full wallet.
- Digital (probably encrypted) backup on one or more USB sticks, CDs etc, stored safely. If properly encrypted, even storing on Dropbox is an option.
- Paper backup (not encrypted) in a safe e.g. in the bank; or better yet: An N-of-M paper backup stored multiple reasonably safe places.