As most of you know, email is very insecure. Even with a SSL-secured connection between the client and the server that sends an email, the message itself will be in plaintex
There are so many different ways of going about it which all have good and bad points, you just need to choose the right one for your scenario. I think the best way of going about it is the same as your 'most common' solution. The trusted third party should really be you - you create a website of your own, with your own authentication being used. Then you don't have to give your hypothetical keys to anyone.
You could use a two way certification method by creating your own client software which can read the emails, with the user having their own certificate. Better be safe than sorry!