No matter how you cut it though, if you have a time-locked address, the bad guy has just as much chance of being the person to get the coins the minute the time runs out as the good guy, possibly even more so if the good guy is in a vulnerable position.
True. But my idea is to use the time lock as an
additional security feature on top of already existing security features, such as offline wallets and multisig.
Instead of using time locks that expire on a fixed date, I would suggest using 'ratchet' time locks where the expiry date can be postponed indefinitely by the owner of the address.