I recently listened to a podcast by Klaatu from the Hacker Public Radio feed about GPG keys and such. Inspired, I decided to make a key using GnuPG from the terminal, following the tutorial in the Ubuntu community documentation section. Here: https://help.ubuntu.com/community/GnuPrivacyGuardHowto
Everything went quite smoothly but I realized that the key isn't much good unless it is shared and isn't very trustworthy unless signed by others.
According to what I have found from a GPG howto myself (the official GnuPG site had manuals but they depended on someone already understanding them fundalmentally it seemed.), It seems like GPG is designed for transmitting messages from person a to prson b, both person a and person b have a public and private key, much like ssh rsa key pairs. This is an odd concept, it makes sense, but it is strange, I think I'll be looking into it some more, but currently backing up data for an upgrade and filesystem change.
I suspect most of us do, when we have a need. That's not the way to do it, of course, but good paranoia is lots of work! If you want to check the appropriate howtos, etc., and run a keysigning party, we shouldn't have too much trouble finding space. Just post a list of what to bring, and let me know, and we'll work on space and time.