If I were to have a 4096-bit file of random data (/dev/random) used as a keyfile for LUKS, would there be any benefit to having a key iteration count higher than 1?
My reasoning is that the attacker could choose to guess the contents of the 4096-bit file (very very hard), the 256-bit master key (still hard, but easier than the 4096-bit file), or the potentially key-stretched 256-bit key derived from tbe keyfile that would decrypt the master key (equivalent in difficulty to the master key).
Am I correct in believing that an iteration count of 1 is no less secure than a count of 100000 for the keyfile?