On Aug 11, 2011, at 10:49 AM, Nicholas Cole wrote:

> Dear List,
> 
> Is there any difference in the standard trust model between marking a
> key level 1 ("I don't know or won't say") and level 2 ("I do NOT
> trust")?

Given the text strings you're quoting, I assume you're referring to ownertrust 
(i.e. "--edit-key ..... trust").  Ownertrust is how you express your confidence 
in how well the owner of the key checks other people's keys (or put another 
way, how much weight do you want to give key signatures made by that key).

There is really no practical difference between the two in the default trust 
model of GPG - either way, you're not giving key signatures made by that key 
any weight in your web of trust.

David


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