I don't see where you guys predicting a blow out are coming from....
I'll play Devil's Advocate:
Michigan's D is 5th ranked in the country, and Iowa's is 42nd. The last time we played a D ranked that high we scored 3 points.
Out of our 5 wins, only Tennessee Tech has a winning record.
Our most similar opponents at home were...
Pitt: Their D ranks 45th and their O ranks 68th.
NW: Their D ranks 90th and their O ranks 40th.
So, when you figure we scored 31 points against the better D and gave up 31 against the better O then you could predict Michigan to do significantly better against both.
Their QB throws INT's, our QB gets sacked a lot.
I hate predicting games off stats because they can be sliced and diced to fit multiple views and frankly there is still a reason we actually schedule them and play them.
I personally don't see this game being a blow out. I would predict Michigan to win by about 8, 28 - 20 type of game, but if we don't show up or Michigan gets rolling it's not remotely out of the realm of possibility that they roll up big on us.