Discussion of the problem and solution process
My guess is that this is around a 5 kyu problem. OC, a 5 kyu might well overlook the kill in an actual game, but given the position as a problem, could probably solve it in a reasonable amount of time. Hmmm. Maybe it is a 7 kyu problem.
Before posting this I went back and took another look at BadukDoctor's treatment of this problem. He was quite thorough, with attention to detail, and showed most of the same variations as I put in the depth 4 file. The problem material available in books and magazines when I was learning go usually showed only a few variations, and if I found the mainline solution I was satisfied. But some years ago I ran across Mr. K's site,
http://mrkigo.sakura.ne.jp/ksikatuindex.html , where he goes into great detail about introductory life and death positions. There was a lot that I had never thought about, lessons that I had not learned at that stage in my development, but in retrospect I wish that I had learned back then. I became an instant fan of Mr. K's thoroughness.

Let's take a look at one variation.
- Click Here To Show Diagram Code
[go]$$Bc White lives, depth 4
$$ --------------
$$ | . . . . . . .
$$ | X X X X . . .
$$ | . O O 2 X . .
$$ | 4 3 1 O X . .
$$ | O O O X X . .
$$ | . O X . . . .
$$ | O O X . . . .
$$ | . X X . . . .
$$ | . . . . . . .
$$ | . . . , . . .[/go]
Now, for a 5 kyu, or a 7 kyu, or even most DDKs,

is silly. However, to prove that

lives, it is necessary to show that

does not kill. And, from the standpoint of learning to calculate variations, it is good to practice thoroughness and attention to detail.

At the same time, however, . . .
- Click Here To Show Diagram Code
[go]$$Bc White lives this way, too
$$ --------------
$$ | . . . . . . .
$$ | X X X X . . .
$$ | 4 O O 3 X . .
$$ | . 2 1 O X . .
$$ | O O O X X . .
$$ | . O X . . . .
$$ | O O X . . . .
$$ | . X X . . . .
$$ | . . . . . . .
$$ | . . . , . . .[/go]

also lives, making
3 and
4 miai for life. It is not necessary, from the standpoint of solving the problem, and, hence, of calculating variations to that end, to show more than one way for

to make life. In my depth 4 file I showed that this

lived, and did not look for another

to live. That would have been overkill.

One advantage of iterative deepening, or at least, reading to a certain depth, is that you achieve thoroughness systematically, not haphazardly.

As most of my readers know, I am not a fan of the advice, for amateurs, anyway, not to look at the answers. Even Cho U, a modern master of tsumego, has revealed that as a kid he looked at the answers.

Instead I have advised people to set aside a certain length of time, 30 seconds, one minute, two minutes, 15 minutes, whatever, to solve a problem, and then look at the answer. OC, that's just the first time around. It is necessary to overlearn the solution. Now I wonder if it is better to set a certain depth to read, and then stop. This is a depth 5 problem. You won't solve it at depth 4. But you could start off reading systematically at depth 4, at which point the rest is obvious.

This problem has illustrated the importance of good heuristics. Let me add other learning, as well.
- Click Here To Show Diagram Code
[go]$$Bc Chunking
$$ --------------
$$ | . . . . . . .
$$ | X X X X . . .
$$ | 3 O O 2 X . .
$$ | . 4 1 O X . .
$$ | O O O X X . .
$$ | . O X . . . .
$$ | O O X . . . .
$$ | . X X . . . .
$$ | . . . . . . .
$$ | . . . , . . .[/go]
For me, the sequence,

-

is a chunk that makes an eye. I therefore do not need to look at other options for

. The chunk is indivisible.
- Click Here To Show Diagram Code
[go]$$Bc White lives, depth 2
$$ --------------
$$ | . . . . . . .
$$ | X X X X . . .
$$ | C O O 1 X . .
$$ | C C 2 O X . .
$$ | O O O X X . .
$$ | . O X . . . .
$$ | O O X . . . .
$$ | . X X . . . .
$$ | . . . . . . .
$$ | . . . , . . .[/go]
It is also obvious to me that

makes a second eye. Now, it takes two more moves for that eye to be closed, but, as we say, the three

points, along with the adjacent White stones, form an eye space with the value of one eye for White. Informally, White has an eye. Now, that is something that maybe most 5 kyus do not know, but experienced tsumego solvers know that White can make an eye in that space, even if Black goes first. By simple arithmetic Black's play takes away one point and so does White's reply, but that leaves one open point for the eye.
OC, I did not rely upon such knowledge in illustrating iterative deepening, but in actuality it is quite useful.