If Iowa comes out of this 2 - 0, they'll be positioned well in the top 10 for at PSU game at 4 - 0, most likely.
Winning Indiana top 25, at ISU top 10, and at PSU top 10 would likely be the best resume in college football at that time, and keeps Iowa in the driver's seat for the West. They have to go to Wisconsin for a top 25 opponent as well.
If Iowa goes to Indy undefeated, with this schedule, even if they lose the Big Ten championship to OSU, as long as it's not a blowout, Iowa has a shot at the playoffs. That's a lot of ifs, though.
I have a hard time thinking that Iowa will win three top 25 road games. Kirk's style just doesn't have that kind of breathing room.
That said, I thought 8-4 before the season, and Iowa just won one of the games I pegged as a loss. Win Saturday, and Iowa is on pace for 10 - 2.
All of that's certainly possible, and it's something both teams should be looking to right now, but I don't think it's particularly probable. That's all. If either team wins this game and ends the season 11-1 it will be a huge victory, along with all of the others.