Thanks for the replies
I've looked at Armory and I wasn't too impressed. It seemed quite unstable and I'm not keen on the requirement to download the full blockchain via the qt client. I do like the paper wallets though. I'm thinking of maybe setting up some paper wallets of different addresses with denominations of BTC. Some 10s, 5s and 1s maybe?
What do you think of setting of a virtual machine in Vmware ESXi that doesn't have a network interface configured as an offline wallet? Has anyone done that? Lots of options, none are particularly convenient - I guess that's the price you have to pay to be your own bank.