An interesting idea given that I was just talking about this exact thing with a friend.
Another post of comparing Scrum to Kanban. I particularly found the section titled "This is why I prefer Kanban" as I have had my doubts about iterations and estimation as must have features. I work in an support environment and the concept of iteration did not fit, so I adopted a Kanban like approach and had much success. BTW I did estimations, but never used them at the micro level and stuck with a lose high level commitment based on completion of all features with a buffer built in.