A muddle that doesn't matter
But it doesn't matter. Iowa historically has not had much impact on later primaries, and the eventual nominee started by losing Iowa more often than not. Trump still has massive leads in the upcoming states, including New Hampshire, now just a week away. Rubio's showing was strong enough to keep anti-Trump Republicans from coalescing around Cruz, whom the establishment loathes more than it loathes Trump. Trump is still the most likely Republican nominee.
None of the rest matter any more, but spare a thought for hapless Jeb!, with his endorsements and résumé and money-bloated PAC, dead in the water in sixth place with 2.8%. He was supposed to be the Romney of this cycle, the safe sane establishment guy cruising to the nomination after the clown candidates demolition-derbied themselves. But now the clowns have taken over the circus, and safe and sane is the last thing they want. In the last few weeks Jeb! seems to have switched his focus to taking down Rubio, and he couldn't even do that. People are just tired of Bushes, it seems.
As for our side, Hillary is now at 49.89% and Bernie at 49.54%, effectively a tie. Eventually a "winner" will be declared, but aside from a small psychological boost, it won't matter, even with delegates (which are awarded proportionally in Iowa). Bernie will likely win New Hampshire, which borders his home state and where the polls have him ahead. That won't matter either. Hillary's lead in later-voting states is too large to overcome. She's still the most likely Democratic nominee.
Huckabee and O'Malley have dropped out, but the news websites are hardly bothering to report it.
I expect infighting among the top three Republicans to intensify, with Trump further stirring up doubts about Cruz's natural-born citizen status, which could get ugly. It will continue on our side as well, though hopefully everyone (aside from the usual frothing-fringe types) will keep their eye on the eventual need to unify the party and beat Trump, whoever our candidate is.
The race may yet, of course, see some game-changing event. It didn't see one yesterday.
Update (Wednesday): Here's another reason why Trump is still likely to be the nominee. All the establishment guys are fighting to be the "last establishment guy left standing", so they spend their resources trying to destroy whichever one among themselves is in the best position -- which, right now, is Rubio. And Trump sits above it all.....