It's clear you've never actually attempted this. The timeout between passcode entries increases with the number of consecutive failures. Get 10 wrong in a row, and the device is wiped (if the user has chosen that option).
> Or, if your target is paranoid and uses a very long passcode, target the charger rather than the device itself. iOS assumes any physical device to which it is connected when unlocked is secure. Replace the usb brick with a small computer (e.g. Raspberry Pi) in a convincing looking Apple-esque case. Then wait until your target plugs in his iDevice and unlocks it. You can then dump the drive, or side load malicious code.
This no longer works on iOS 7. The user has to manually choose to trust the computer they're attached to prior to any communication going across the wire.