The reason I like to use a key file isn't so much paranoia, but ease of certain types of use. If I use a key file, I could upload my KeePass database to a cloud

The reason I like to use a key file isn't so much paranoia, but ease of certain types of use. If I use a key file, I could upload my KeePass database to a cloud service, but keep the key file elsewhere. I could also keep the database on a usb drive and keep the key file somewhere else and not worry as much about passwords I have to remember or how strong it is. There are WAY too many services that don't allow for 60 character passwords though. I use much shorter passwords by default (24 characters or so, I'm not even sure of the exact length) but it's not uncommon for a service to not accept my generated (by KeePass) password due to its length.