RE: 2 of 3 being far more useful:

So create a clean pull request, unit tests, and test plan for an
"IsStandard" 2-of-3 transaction, either using CHECKMULTISIG or
groffers proposal:

0
OVER 2SWAP CHECKSIG SWAP HASH160 {pk1hash} EQUAL BOOLAND ADD
OVER 2SWAP CHECKSIG SWAP HASH160 {pk2hash} EQUAL BOOLAND ADD
OVER 2SWAP CHECKSIG SWAP HASH160 {pk3hash} EQUAL BOOLAND ADD
2 GREATERTHANOREQUAL

The low-level support is relatively easy, reporting these transactions
in listtransactions and figuring out if or how to report them in your
wallet balance is tricky.

I generated and then spent three multisig transactions on testnet:
 
http://blockexplorer.com/testnet/block/0000000000cfe382f690777e3b52ea255717122465db6fcfd80efdf2d0080d8b

Code I used to send them is:
 https://github.com/gavinandresen/bitcoin-git/tree/multisig_testing
(that code is NOT intended for mainline bitcoin, I just needed a way
of testing the new transactions).

-- 
--
Gavin Andresen

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