I think the definition of what constitutes a single iteration is subject to personal values and tendencies. E.g. I myself have a hard time calling a task "done" when it simply meets a rough guideline that was specified in text ahead of time. For me, it has to be better than just satisfactory. And that's before adding the customer's expectations into the mix. Hence, I would be a horrible candidate to try this. But I have met devs who are the other way around, and you may well be like that. I do think it's bold of you to give this a shot.