Update: the service is permanently closed

I've opened a new beta service, CoinCard, which lets you convert Bitcoins into automated PayPal Amazon payments or gift cards.  I've posted a 4 minute video showing how to use the service to buy a pizza with Bitcoins.

Basically, you send Bitcoins, wait for 2 confirmation blocks and then receive a PayPal Amazon payment or a gift card automatically.  The highest Mt Gox bid rate is used as the exchange rate.  The service currently charges a 1% convenience fee.  I picked that fee at random. It may change depending on supply and demand.

PayPal payments are sent using MassPay, so you pay no fees to receive the payment, however the convenience fee is a little higher to cover the costs on my side.

I'm interested in suggestions for improvement, especially other gift cards you'd like to buy.  PayPal and Domino's are the only options for now.  Amazon and New Egg might be possible.  I can also support Dwolla payments, if there's interest.

The service is open today for the first round of testing.  I'll close it over the weekend since I want to be around in case anything goes wrong.