Using version control/deployments with Context I've started to use Context. It actually works pretty well. I've created a context locally. It looks like, in order to get that context remotely, I have to export it and then copy and paste that into the remote server.

It's not a major pain, but we have dev, stage and live servers, plus the context isn't under version control, so any changes (or in fact the context itself) aren't stored in code.

Ideally, I'd have a situation like Views where I export the View, paste it into a file, deploy that file from version control to remote servers and the View updates on those servers.

Is this possible for context? Maybe using CTools? 

The slight quirk is: I don't really like Features, and, at the moment, it seems overkill to add that as a module just for the sake of one context.
OK; so I swear I did look reasonably hard for this before I posted the question, but I have done the thing where I've genuinely found the answer 15 minutes after posting. 

http://www.mcdruid.co.uk/content/default-drupal-contexts-like-default-views was the blogpost I needed - he's created an issue to get this information into the module, but it looks like it won't happened.

This seems to work really well, and I've created a separate submodule just for contexts.