She doesn't need Colorado if Rubio can't win Iowa.
She only needs Virginia, where she is favored to win.
This is the correct answer. In order to defeat Rubio, Clinton just needs to hold the states that voted against George W. Bush at least once, plus Virginia (where she should be slightly favored in a close race).
IA would probably vote Republican in a very close race.
That seems to be the conventional wisdom among many here, but I'm not so sure. The state has pretty consistently voted slightly to the left of the nation over the last few cycles, and I suspect it will do so again this year. Even if it does vote Republican, Rubio stills needs either Nevada or Virginia to win the Presidency. That's why I consider Clinton to be favored in a Clinton vs. Rubio election, although that could change depending upon a number of factors.