Eventually age will too use SSH keys to encrypt/decrypt, yes? So, I can password protect an SSH key in that case, so the question be, would a password protected age key be smaller than its SSH counterpart?
Arbitrary file read while the computer is running will usually get you an auth token that lets you run code, yes, but those tokens are useless when the computer's off.
I know of at least one current CS lab environment where everyone's home directory is on NFS and, unfortunately, NFS trusts the MacOS computer to correctly declare who's accessing the file. This has broken several times.
So here we have a case where the attacker can read $HOME, which is the only reliable storage location, and cannot access the rest of the filesystem - those tokens tend to live in volatile locations.
The OS X keychain protects the browser history and cookies, with similar mechanisms used on Windows (CryptProtectData) and on Linux desktops (keychain), which means this style of attack does not actually spell disaster for the web history of the students under the cold arbitrary file read attack.
This points to providing platform protection for key files, with unencrypted for when platform data confidentiality is assured or for key transfer.
Additionally, after discussions with people having more dire threat models than mine – in particular, "police throw your laptop in an evidence bag & attach a debugger to the RAM" – FDE keys would be the first thing extracted, so FDE should not be considered a functional fix for "I read the private key file off the disk".
A laptop thief, who has waited until the machine was in use, can pull the classic 'carry with arm stuck through your Mac to prevent sleep' and then just... use your keys. (I believe this featured in one of the Halloween threads.)
Agents do not fix this - only keeping the key unusable until unlocked with knowledge does.
I'm sure you were already planning that an encrypted mount should throw the asymmetric keys and preserve only the file key in memory.
The principle here would be "key material should not be extant when not in use"; a file encryption tool's keys spend a lot of time not in use. Therefore the keys should not be accessible without an affirmative step to access them, such as entering a password or performing a tap.