Today’s topic: What will be the headline story on January 4th?

Imagine it is 8 AM on Friday, January 4th.  Last night were the Iowa precinct caucuses.  What is the headline going to be on the Des Moines Register’s front page?  What will the morning shows and cable networks be talking about?  Will the news coverage have a focus on the Democratic results or the Republican results?

These are all important questions going into the caucuses.  For the Democrats, our presumed front-runners all could easily win the Iowa Caucuses.  That means they all could meet expectations.  And in the news business, your story isn’t newsworthy unless you’re doing worse or better than expectations–or you’ve turned them on their head.

On the Republican side, the story and expectations for the past few months have been that Mitt Romney is going to win the Iowa Caucuses for the Republicans.  Now that Mike Huckabee has surged into the lead, we’ve seen the change in tales coming out of Iowa.

But as Marc Ambinder speculates here this could be a gift or blessing in disguise to Mitt Romney.  If Huckabee’s surge is soft or just heightened by favorable coverage up until this week, a potential tanking and resurgence on caucus day for Mitt Romney entirely changes the story in Iowa (again) and makes Republicans the dominant story out of Iowa.

What does that do to Democrats?  I’m not sure.  I’ve only really paid particular to attention to one caucus and the momentum coming out of it for Kerry pushed him to strong victory in New Hampshire.  And Bush had no opponent, so I can’t gauge the Republicans.

So here’s my question: What will the story be on January 4, 2008?  Will it be an expectations met story?  Or will it be a topsy-turvy story of surprising results from Democrats or Republicans?