I think Iowa's emergence has been impressive, but don't forget they also received the benefit of playing BOTH Ohio State and Michigan State only ONCE each. That is likely a two-game swing compared to other teams who had to play those two programs twice each.
That said, anyone who isn't paying attention to what McCaffery is doing there, should start. He has a really good recruiting class coming in, and those people down there are starting to get excited about hoops again. If they start filling that place like they used to, then there's another program to worry about with regard Minnesota's standing in the Big Ten and the difficulty present in trying to climb through the pack.
I'd also add, Iowa is in a position somewhat similar to Penn State last year as they wound down. I think Penn State was 15-13 with an RPI around 85 at this time last year and ended up in the tourney. So, as usual, SS is probably correct. Should IA win 2-3 more regular season games (good chance with remaining games vs. Ill, NW, & Neb) and get to the BTT title game, they have a real shot at getting in.