I would like step-by-step instructions for creating a Bitcoin escrow. Can someone please walk me through an escrow with a bitcent? Here's a public key to which I have the corresponding private key: 16sBoHhUdXUmbpQzbgh6aRNHTbbjunZjAY
You need more detail. 2-of-2 you can do with Bitcoin RPC today, but you need both keys in your wallet, which makes it fairly useless. Also, when you say "instructions", is "write a program" a valid instruction"? :-)
To me the most useful form of escrow is a 2-of-3 dispute mediation contract. It's not hard to do today if you are willing to get dirty and write some code. But making it useful to ordinary users involves a ton of work to layer everything needed on top in an easy to use manner.