First off, I think Iowa will still make the NCAA tourney and that's what it's all about. Obviously a good regular season is important, and a good season is nice, the tourney can be a total crapshoot which is why it's so important to just get in. It's like the baseball playoffs that way, and the Royals from last year are a good example. If you are surprised by the fact that most people still have Iowa in the tourney, don't compare them to waht you think and NCAA tourney team should be compare it to the other teams on the bubble. You'll be surprised at what you find.
Secondly, the only thing that confuses and confounds me is the lack of home court advantage. Iowa is 15-10, with 4 home losses. ISU has 6 losses, none at home. The only real difference between the two is those home losses. And those are incredibly damaging to something like the RPI.
The other thing I think that is really tough for Iowa fans in relation to basketball is the Lucy pulling the football effect. Iowa has two good wins 2 weeks ago, everybody is riding high, and the follow it up by home losses to MN and @NW, likely the two worst losses so far on the season. Last year like people have said, Iowa crushes Mich last year, gets in the top ten, and craps the bed. They lose at home. It seems like you can't have any expectations with this squad.