Then you could type in your eight words in ANY software supporting HD wallets to get your wallet. Full interoperability.
I love it.
//update 11:04pm (GMT) Wednesday, July 18, 2012 //
Unfortunately, it's REALLY DIFFICULT to pick words that people would recognize and know how to spell. I decided to only select words that show up in "Enhanced North American Benchmark LExicon" (ENABLE... it's sort of a master dictionary often used for word games like scrabble -- http://google.com/search?q=enable2k)
Cleaned the data with enable2k... which data? The data in question is Licensed under Creative Commons Attribution 3.0 Unported License
I used Google's data for Ngrams / corpus studies:
http://books.google.com/ngrams/datasets
The data came from OCR scans of books found on google books. Be warned. If you try to use their datasets marked as "english", it's full of several non-english words (including french, spanish, italian) and even a misprint or two.
Example of some of the nonsense I found during my last pass of cleaning:
http://pastebin.com/dgZHdarc
Also, there were quite a few things like price lists included in their 1-grams (so like $2.50 and so on)
I'm leaving my most-common 25k word list under Creative Commons Attribution 3.0 Unported License... so if you find a use for this before me, feel free to build on my work... Took me a few days, but here is the list of the most common 25k (twenty five thousand) english (north american... mostly) words which are AT LEAST 5 letters long:
http://pastebin.com/Tvd2nkVJ