You will lose your bitcoin if someone finds one of the sets of words 

Aren't we still talking 80 bits of entropy, if an attacker found any one of the three parts?

I'm no expert, which is why I'm asking.

All the solutions I've seen have issues and trade-offs. This seems almost as good as multi-sig, and more importantly, something you can actually do without a huge amount of study and complexity.
 

03352b4271

Your reducing the entropy needed to brute force your private key. Doing this is not a 2-of-3, it is a 1-of-3 plus some brute forcing.

You are not more clever than the cryptographers who made these tools. Seed words are designed to be used in whole, not to be split up. Doing so compromises the security 