Iridar, It does not seem to really affect his DPS/Stats,
I went from a body guard with a 600 ilvl to 634 and his hp still sits around 100k and his dps has not really went up. That being said the body guard has been lvl 100 the whole time, so I'm not really sure if it scaled. Also to note, which is REALLY annoying is the fact the bodyguard does not take a group slot, meaning unless you set him as a focus you have to click him running around. (Very annoying as a healer, plus, seriously wtf, I've got 200k hp and a lower Ilvl then him and yet he is a DK and takes damage like crazy...)