Originally Posted by Poly
Clamchoweder - no need for Password Safe (which means all your passwords are only as secure as your primary password, and you probably can't get your mail if you forget the magic device).
You do need to have it with you if you want to access stuff 'on the move', granted. But it's not just "as secure as your primary password", since the you also have control of the location of the file. It's not available for brute force hacking to anyone who hasn't compromised your storage location.
I like your system though, either would be fine.