Discluding a feature like this from anyone who doesn't know how to compile c code would be a terrible thing.
+1 more. This is a very important feature, whether it's exposed to end users or not.
Actually, I might have changed my mind (partly)
Exporting of a key has a problem, doesn't it: the key is still in the source wallet. There's no way to remove it, is there? Even if there is, it's easy to screw up and people will wonder where their money went.
The importing of a privkey is the part that is important for users (bitbill, import key generated with external tool like vanitygen) and this part, luckyly, poses no problems (that I can see), does it?
So how about splitting this and putting importprivkey in default, but not dumpprivkey?