My prediction for Iowa tomorrow in order:
Paul wins
Santorum second, but only by a very tiny margin. Could easily flip Paul/Santorum here
Romney 3rd place, not close
Newt 4th place, not close to Romney
Perry
Bachmann
Hunstman
Bachmann drops out sometime between now and Florida. Huntsman will stick with it all the way. He's just running to get his name out there so he can make a real run at it in 2016. Perry will stick with it until most of the south has voted, then turn over his deligates in exchange for some backroom power in the republican party.
This will kill off Newt. He's counting on making his stand in South Carolina, but if he finishes 4th in Iowa, he's done. All his southern supporters will jump to Santorum. By the time it gets to super tuesday it'll be Romney Vs Santorum Vs Paul. IMO, Santorum wins that fight because he's got the least dirt on him.
Paul's strategy seems to be to focus on caucus and open primary states. It could work. He could take those states, but that isn't a strategy to win the election, it's a strategy to play kingmaker at the convention. In that respect, he could be successful.
I'm not sure Romney has a real shot at winning this really. He's a paper tiger IMO. People just don't like him no matter how hard he tries. Eventually he's got to convince some people to actually like him or he's not going to make it. There seems to be too many "anyone but Romney" voters out there. Once the field dwindles down to 2-3 candidates, Romney is in real trouble. If someone like Santorum can convince people he has a reasonable chance at beating Obama, it's game over. Right now the only reason he's polling on top is because people think he is the best shot at beating Obama and the "anyone but Romney" voters are split between several candidates. When the field thins out a bit, if some other candidate can make a strong case for being able to beat Obama, Romney will be out of this.
Santorum wins the nomination IMO. Every other candidate has fatal flaws. Although maybe Santorum has some unexposed weaknesses too. If some fatal flaw is exposed, Paul or Romney become the favorites.