Yep, I do the same. Master truecrypt container on a USB stick that just contains a text file with all my logons.

Then whenever I change that file I backup the truecypt container to Spideroak so I'm not hosed if I my stick gets lost/broken/stolen.

That is completely unusable on mobile.

As someone who consistently needs my passwords on the go, a password manager is really the best way to go.

Do you have to trust that the password manager doesn't upload the passwords? I trust TrueCrypt since it isn't specifically for passwords.

Don't you run the risk of getting the text file or spreadsheet cached to the temp directory?

Good point. I doubt Notepad caches anything on a different drive, but Excel would if auto-save is enabled.