There will be at least 2, maybe 3 one-loss teams ahead of Iowa (Miami, USC and LSU), Cincinnati will be ahead of Iowa (why? what scary games have they won?), Boise St, having already played and won the only real and competitive game on their schedule (the 1st game of the year) will be ahead of Iowa and Notre Dame, having almost beaten USC, will move up in the polls.
I will note that I am not a BCS or poll basher and I am not in favor of a playoffs system, but all of the above scenarios are absurd and laughable and they denigrate the value of the polls. Yes, things will probably work out somewhat more fairly by the end of the year, but that goes to show it is more about politics than merit.