Iowa already has a huge advantage over everyone else in the West being 2-0 so far in the cross over games. Iowa is in the drivers seat regardless if they beat PSU or not, in fact they can lose the game on Saturday and they would still be all alone in first place. If they were to beat PSU then it would be extremely tough for another team to pass them.
I get what you are saying about Minnesota, they are entering into the soft spot in their schedule with Neb, Maryland, @NW, and Illinois being their next 4 games. There is a chance they could win all 4 setting up a huge game in Kinnick on Nov 13th. OTOH, they've been playing like shit at home and it wouldn't surprise me if they went 2-2 over the next 4 games either.
I wouldn't count out Wisconsin just yet. Yes their QB and offense sucks but they still have a very good defense and there is still a long season to go where the offense could improve. Other than playing Iowa at home they have an easy schedule going forward. If Iowa was to stumble against PSU and Wisconsin wins their next 2 conference games (@ILL and @Purdue) they could go into that Iowa game being 4-3 and a win over Iowa puts them into the drivers seat for the West.