What I'd like is one-factor for my typical "log in and check mail, write back to a few people" use case, and two-factor or a second password that kicks in when I (or a bad guy) tries to:
* Log in from a computer that's never used this account before
* Set up a forward
* Make a mass mailing
* Change the password
* Do extensive searching or searching for suspicious terms ("password", "credit card", etc)
* Export a large amount of mail
...and other such things. That way, I don't have to be inconvenienced by constantly having to use the second factor, but would still survive a stolen laptop, keylogged passord, or sniffed cookie with a contained amount of damage.
* Log in from a computer that's never used this account before
* Set up a forward
* Make a mass mailing
* Change the password
* Do extensive searching or searching for suspicious terms ("password", "credit card", etc)
* Export a large amount of mail
...and other such things. That way, I don't have to be inconvenienced by constantly having to use the second factor, but would still survive a stolen laptop, keylogged passord, or sniffed cookie with a contained amount of damage.