Here are the answers from my friends on the ICSF development team.

>1. Is it good idea to have millions of keys in PKDS? Would it be a 
>problem for ICSF? VSAM limits seem to be not a problem, but maybe ICSF 
>have some bottlenecks or limitations.

There will be no problem for ICSF to store 2 to 3 million public keys in the 
PKDS. 

>2. Can I keep the keys out of PKDS, for example in DB2 table? Note, we 
>talk about public key, so there is no big reason to keep it secret.
>For example: tell ICSF to check msg using given key value, instead of 
>given key label. I remeber such solution is feasible for symmetric keys 
>(the key was encrypted using Master Key).

Yes, you can store the key tokens outside the PKDS. Callable services accept a 
label or key token. PKA public keys are in the clear, so there is no security 
issues.
To be clear, I would only recommend keeping public keys outside the PKDS. 
Private keys should be maintained in the PKDS so they are properly reenciphered 
during a master key change. 

>3. What about performance? While DB2 table can be buffered, what about 
>PKDS? Does it require I/O for every key use?

During initialization, ICSF copies the PKDS into 64 bit storage. When a label 
is passed to a callable service, ICSF retrieves the key token from the in-store 
PKDS. No I/O is performed during the retrieval

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