Is it? I just mean Iowa... remain calm Deanophiles.
Personally I don't think expectations are well defined enough that I want to say what "expectation is", especially since I think Iowa favors underdogs and exciting races. I do think the question has meaning. Iowa is an expectations game used as an opening bell. It always tries to say, "anything can happen!" because that goes well as a political version of "lady and gentlemen, start your engines".
I hope the brevety of this diary forgives it's recent sibling. They're twins.