Two interesting links:
A great thing on generating passwords/phrases
10 myths about security in the Windowed World.
I personally prefer moderate strength for personal use. i.e. Only I'll be able to remember wth I was thinking when I made the pass. By the time some one could get close to cracking it I'd have checked my system logs or changed passwords. And last but not least: that it can be variated and subclassed creating a string of rememberable (to me) passwords derived from a base password to form a group to create a larger list of "random out of the box" passwords I can use for low inportance items.
Although my remote access keys (type withheld) I generate with exsessivly strong stuff:)