I'm talking a long time ago now (VB6 days) but I used to use some modules that worked with PGP from within VB, this worked excellently and given PGP's reputation I would, if I had the choice (ie the modules/new .net libraries still exist), choose it over any of the Builtin CLR encryption for security reasons.
Although If there are no recent .net libraries for PGP then the 256 bit AES is probably your best bet.
EDIT: Something probably worth noting with AES is that the NSA required that all newer encryption algorithms created contain a back door access system for them to use on encrypted data should they require access (terrorists encrypted data etc) Phil Zimmermann (the original author of PGP) point blank refused to do this. While i have no idea which encryption algoriths contain the back door (AES was introduced to .Net well after this argument took place so there is a high probability it does have a back door) it's safe to say PGP doesn't!
http://www.philzimmermann.com/EN/faq/faq.html
Quote from some security website
"Phil Zimmermann, the anti-government
creator of PGP says that copies of its
encryption software which were sold
before Fall 2001, when he left NAI,
are solid, but future versions may be
tainted"
So may not be spot on for the latest versions but i'm happy to use a pre 2001 version (7.0.3 is the last version that Zimmermann would vouch for) :-)
EDIT2: http://www.codeproject.com/KB/security/gnupgdotnet.aspx this looks like it may help.
HTH
OneSHOT