According to Steve, the reason Rudy did so poorly, especially compared to Ron Paul, was because Rudy really wasn't competing in Iowa.  But is that true?  Here is some interesting analysis from Lew Rockwell, who examines the number of votes he received compared to the number of visits in the state:

- Paul - 27 Appearances, 11,598 votes
- Giuliani - 35 Appearances, 4,013 votes
- McCain - 38 Appearances, 15,248 votes
- Thompson - 75 Appearances, 15,521 votes
- Huckabee - 86 Appearances, 39,814 votes
- Romney - 109 Appearances, 29,405 votes

So Rudy actually campaigned more than Paul in Iowa, and received almost one third the votes.  Combine that with these results from a CNN entrance poll in Iowa, and it paints an even more troubling picture for Rudy.  When asked about the events in Pakistan, among those who said it was Very Important, Rudy only scored 4%, the worst result (except Hunter).  For those who's top issue was the War in Iraq, he only scored 3% (also worst except Hunter) and only 7% for those who view Terrorism as their top issue.  Those are his bread and butter issues.  Rudy's campaign is all about 9/11.  If he can't win on terrorism, then he simply can't win.  Also interesting in those results is that Ron Paul received 29% of the independent vote, more than any other candidate.