Democrats: Edwards, he has been campaigning in the state since 2004 and rural people love him. He is the second choice pick of most everyone (which matters in Iowa). I think his win in Iowa should shake up the race enough to make it interesting. Although i am sad none of the second tier candidates appear to be moving up in the polls
Republicans: Romney, he has the best team, if he wasn't mormon i think he would have the nomination locked up. I think McCain is going to do better then expected and this will shake up the Republican nomination.
Should be fun to watch, to bad Oregon doesn't matter at all in the nomination process. If it did i'm sure Kucinich and Ron Paul might have had a chance :)