Adi Shamir gave a talk at MIT last week at which I think he said that the following cryptosystem was minimally sufficient:

XOR Key / Permutation / XOR Key

He seemed to me to imply that (informally speaking) any additional complexity would be more likely to provide attack opportunities than not.

Perhaps anybody else that was there or is familiar with Shamir's work along this line might comment.

Cheers, Scott
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