Now you make me want to write a "truely paranoid user's guide for using Electrum"

Actually, please do

I won't do it any time soon, especially since o_e_l_e_o just made me realize I'm not paranoid enough yet:
The only safe Electrum server is your own one.
I'd love to see it from a perspective of having multiple devices at your disposal which can all be used for securing a wallet.
You don't even need multiple devices for offline signing, but it would require rebooting into a Live OS at least once (or multiple times, if you're like me and realize too late that your offline Electrum is an incompatible version, followed by the next reboot once you realize offline signing with minimum fees creates a signed transaction with less than 1 sat/vbyte and can't be broadcasted. In short, it is a lot easier with a dedicated offline device. Luckily, old laptops are very cheap nowadays.
There's another reason I can't really write a detailed guide:
if someone's doing offline signing, they should
understand all the steps, and they should be able to fill in the blanks to match their own situation. If you're only following a tutorial to the letter, chances are you're making a mistake. That's why I prefer to stick to just this summary:
Online:Install Electrum on your PC.
Import your address to create a watch-only wallet.
Preview the transaction, Copy the unsigned transaction. Put it on a USB stick.
Offline and running without hard drive storage:Get a Linux LIVE DVD. Use Knoppix or
Tails for instance, or any other distribution that comes with Electrum pre-installed.
Unplug your internet cable. Close the curtains. Reboot your computer and start up from that DVD. Don't enter any wireless connection password. Keep it offline.
Start Electrum. Import your private key.
Copy your unsigned transaction from the USB stick, load it into Electrum.
CHECK the transaction in Electrum. Check the fees, check the amount, check all destination addresses (
character by character).
If all is okay, sign the transaction. Copy it back to your USB stick.
Turn off the computer. That wipes the Live LINUX from memory and all traces are gone.
Online:Use your normal online Electrum to (check again and) broadcast the transaction.