the lightwallet currently only has send and receive functionality
OK i have not looked at this recently - is that usable, or still in testing, and is it stable, or likely to have frequent mandatory updates like the full client as it builds in exchange functionality?
I was originally thinking just take the current full client and strip it down to transfer functionality, because I assume all the development work is on exchange-related functionality. If it only ever maintained transfer functionality, such a basic client should only require an upgrade very rarely, if at all, until everything else is more stable.