After looking at the approach plate, it is even more clear to me that if I was cleared for the approach and direct to the KELON IAF at 8000', I would continue to KELON at 8000' and use the depicted holding pattern at KELON for descent to 2500'. One turn in holding with the landing gear down should be plenty, with 5 NM to the FAF to intercept the GS at 2500'.
Using the MSA of 2100' would put you below the 2500' [soft] initial approach altitude, so that would NOT be a good option IMO.