Romney's Making the Right Play in Iowa

However, the dynamics of this particular campaign are such that expectations-setting can only be a secondary concern for Mr. Romney. The upside of possibly winning Iowa is too high for Mr. Romney to pass up, and the risks of giving a free pass to another candidate are too great.

The big problem with losing Iowa is that if you don’t win it, someone else will. Consider what would happen if any of the other six Republican candidates who are competing seriously in the state won it instead.