On paper Iowa should be about 9-3 (6-3) with losses to the two best teams they play (Wisconsin & Penn St) and one other loss.
However, as we've seen, Iowa has beaten teams that are superior to them and they often do it at least once a season and of course the reverse as well when they lose to a really bad team.
This year I think its Wisconsin on the good end, just because I really want them to and Penn St is so superior athletically to Iowa, I just don't see it happening. On the bad loss side, I think Iowa loses to Nebraska. Frost will target Iowa as a measuring stick. Throw in losses to Purdue and Northwestern and Iowa finishes 8-4 (5-4).
As others have mentioned above, the loss of Wadley will be devastating and not fully realized until we see Young or IKM running for a 15-20 yard carry in a big game that would have been a TD with Wadley. And that carry will be the difference in at least 2 games.