@brenty's comment in another thread made me think:
you will be the weak link here: either due to a bad Master Password, or a guy with a wrench that is able to, well...wrench it from you.
TrueCrypt has a decoy mode. The idea is you have two passwords. Input the normal one and you get all your normal data. Input the decoy password and you get a load of dummy, but realistic data.
Then, if someone tries to coerce you into revealing the password you can just give them the decoy password and not risk revealing your true data.
Is it possible for 1Password's encrypted .1password file to use a system similar to Truecrypt's?