(I'm not sure what it's all stored in a PEM.)
Using standart PEM gives an advantage: standard means to convert the key into binary format and then use this binary key for the barcode etc
And I agree, but I'm not convinced it's the best way to handle wallet dumps.
Anyway, my current walletdump branch (https://github.com/sipa/bitcoin/tree/walletdump
) contains a "dumppemkey <address>" RPC call, which exports in the standard PEM format... 720 characters per key (compared to the base58 representation of a (bitcoin-specific) private key, 51 characters).
It currently does not support importing keys, or extracting only the public key of an address.