I went to myetherwallet.com with iphone, typed in a password and created a ether wallet. I did not download the keystore because I wanted this to be secured with just the paper print off on its own. Is this a good idea? Thanks
Yes, that is fine. If you have copy + pasted and saved the private key to a text file, just know that this is insecure. However if you printed out the paper wallet, and are only going to use that to access your wallet, you should be fine.
I would print out multiple copies though! You can never be too safe.