I think that they will win a bowl game this season. Iowa plays well in bowl games against a variety of play styles. They beat pass heavy teams in the 2001 Alamo Bowl and in the 2010 Insight bowls. They would get a similar match up if they get the Holiday Bowl. They beat "athletic" southern teams in the 2004 and 2009 Outback bowls, the 2005 Capital One bowl, and the 2010 Orange bowl. They would go against a less talented team of that style if they get the Music City bowl.
Iowa's formula for bowl success begins with a fundamentally sound defense. They play there assignments, and play good team defense. With a month to prepare they can shut down even the most powerful offenses ala Georgia Tech. Iowa's offense is relentless pounds teams into submission. They will do something similar this time too and break off some big runs late similar to how they did it in the Orange Bowl.