Yup you just have to be sure the old shares are properly deleted

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ah, so perhaps not useful in the “someone got a hold of one of my devices” scenario

As long as you're confident a quorum of signers properly delete old shares then you're good. For example, someone could steal one device in a 2of3 and the other 2 signers you control can generate a new set of 3 shares and properly delete their two shares. The thief's share is pointless then.

nice, thanks for the explanation! getting really excited to see a frost wallet in the wild

When will exchanges support bech32m? Until then it is risky for a wallet to be taproot-only. https://whentaproot.org/

exchanges only need to support sending to taproot addresses, which is an almost trivial change.

feels like we should be advocating more for them to do this, if that indeed is what’s holding back innovation

We have advocated. See the advocacy website I linked. And spoken to PMs and engineers at some of the companies. They don't see it as a business priority.