I'll admit that MITM attacks are rare and sophisticated, but if you're not guarding against them, the only take you prevent is casual snooping on the wire. If you're only going to worry about casual snooping, you could just as well use rot13 as your "encryption". (Granted, I'm exaggerating a little, but why bother with something as complex and secure as OpenPGP to prevent casual snooping.) Your points about keyloggers, etc. are very valid.
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