Novak's Take on Iowa

Obama leads in most polls, and significantly in some. His negatives are much lower than Clinton's, and his positives are higher than Edwards'. He has as much money as Clinton and the edge in enthusiasm. However, his campaign team in Iowa is the least experienced of the top three. He could flame out like Dean, but all considered, he has to be viewed as the favorite.

Hillary's organization may be the strongest, but her negatives are the highest. Her hardball tactics against Obama will hurt her. For the Democrats, who have a viability threshold of at least 15% in each precinct, second choice matters, and that is where Hillary's negatives will hurt her. She doesn't appear to be the second choice for very many voters at all.

Edwards has run in Iowa before and done well. His second-place finish in 2004, however, was in a weaker Democratic field. His negatives are low, however, and many polls have shown him as the most popular second choice among supporters of the second-tier candidates. In polls, he is right on Hillary's heels, and it is likely he will pass her in the caucuses.

I hope he's right.