I see both sides of the argument... On one side Iowa gives each candidate the opportunity to visit every voting district and have a more intimate conversation with a large percentage of voters. On the other side, the group they are speaking too represents a small faction of the United States that does not accurately represent the significant cultural or financial influencers in the US.
While I appreciate the opportunity to speak directly with more citizens I think the value of speaking to the larger states that contain more delegates, and contribute more to the economy of the US should be the drivers to kicking off these elections. Especially given the amount of influence the early votes have on each campaign. These are primaries so I don't think blue or red states make a big difference as each side would have the opportunity to elect their desired representative.
All part of the reform that I believe needs to happen in our political election process. The whole damn thing is pretty screwed up.