Erick Erickson thinks so:

I think it was a big mistake for Huntsman to write off Iowa. Today I am convinced of it. Every time the subject come up with Iowans I encounter, not to mention other conservatives here for the Hawkeye Caucii, they lament what might have been Jon Huntsman.

Allahpundit wonders whether Huntsman has a shot in New Hampshire:

[L]et’s see how that looks tomorrow morning if/when Romney’s just been crowned king of Iowa and there’s suddenly a real chance of him stomping his opponents into dust this month. Remember this too: Not since 1976 has the winner of the caucuses in a contested election gone on to win the New Hampshire primary …