Call for Discussion - Time-Delay Protocol

[project_31@alias.cyberpass.net]

[Though I have posted this to the group four previous times, I have not
seen it - or any replies to it - in my incoming cypherpunks list
traffic.  If you have, sorry for the redundancy.  I need a replies to
this within the next week or it will be too late.  Thanks...]
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I should be pleased to have informed input on this hypothetical problem:

                                    *

Very simply put, it is desired to put an encrypted, paragraph-length
message into ubiquitous public distribution, contained in an explanatory
plaintext.

On a predetermined date stated in the plaintext, the passphrase is to be
released and the parties holding the message may decrypt the cyphertext
and know its contents.

An undetermined number of persons and organizations would have a high
pecuniary and reputational interest in...

        1.  Knowing the contents of the encrypted message before the
            passphrase is publically released.

        2.  Counterfeiting both the explanatory message and enclosed
            cyphertext to include their own content, then placing the
            spoofed message into wide distribution as genuine, or
            flooding the net with multiple spoofs.

        3.  Discrediting the message by attacks on its protocol
            integrity in terms of date of release, modification after
            stated date of release and any other valid (or invalid)
            objections that may occur to them.

It is assumed that these persons and interests do not have access to
NSA-grade cryptanalysis, but may have access to academic-grade
cryptanalysis.

                                    *

At first glance, this seems to be a classic case for PGP using the
following protocol:

        1.  A large-modulus PGP public key is prepared prior to the
            experiment and placed on (a) the keyservers and (b) at an
            "authenticating" website of neutral interest and good
            reputation.

        2.  The critical message is encrypted conventionally (IDEA) in
            ASCII format with a large passphrase and included in the
            explanatory plaintext, which also includes the
            authenticating key ID hexnumber and fingerprint, and
            instructions on how to obtain the authenticating key.

        3.  The entire plaintext message is clearsigned with the
            authenticating public key, and the resulting textfile is
            widely distributed.

This permits the maximum number of persons with trivial interest to
easily decrypt the saved message by simple PGP use of the passphrase
released, and still provides for definitive authentication by those
troubling themselves to obtain the original public key.

                                   *

CALL FOR COMMENTS:

        1.  How may this protocol be improved?

        2.  What are the security flaws in this protocol?

        3.  May this protocol be simplified without compromising
            security?

Thanks to all who contribute.