I'd prefer a card and electronic version with name, photo and QR Code (with human-readable number below) that an officer could scan or type in could link to the appropriate government database that has all the rest of the info. The user could choose which to present.
There's no reason to have a document with your address and phone number to permit driving or function as ID. Every cop car I see has a laptop and wireless access. Easy to look-up and verify.
We'd have to figure out how to let legitimate 3rd parties (e.g., banks, employers) access the db securely without the ability to access too much information. Still, even if we gave them full access to address and phone details it's no worse than the current situation and better in many.