No, because the ethanol thing hurt McCain in Iowa.
Yes and no. Primaries are a world apart from the general. One may be reminded of Eddie Murphy's hysterical bit on Jesse Jackson's presidential run ("He f***ing won?"). Not comparing because of the race issue, but because of the differences in considerations in November vs. January.
Iowa's unique position as an early vote (and a caucus no less) render those results suspect to begin with. As a son of Indiana, I have always found the idea of Iowa supporting an ultra-liberal questionable, if not preposterous.