Swing State Project released their initial ratings for the 2010 Senate contests. They ranked three potentially competitive races as “likely D,” one as “lean D,” four as tossups, three as “lean R” and two as “likely R.” Click the link to view the chart and read their explanation for each rating.

Swing State Project views Iowa’s Senate contest as one of seven “races to watch.” I agree with DavidNYC’s assessment:

Grassley’s been the subject of a lot of retirement rumors, if only because of his age. But his tight relationship with Max Baucus, and his career-long posture as more of a process guy than a legislation guy, probably mean that his life in the minority is a lot better than average. If he bails, though, this race will probably attract the likes of Rep. Bruce Braley and shoot straight to Tossup.

I would prefer for Braley to stay in the House, because he’s set up to get a lot of good things done there. In any event, I don’t expect Grassley to retire.