Yeah, but conversely, if Clinton wins comfortably in Iowa, and it looks like she's cruising towards the nomination, the GOP will be more concerned about electability, because they feel a much stronger visceral Clinton hatred than Obama hatred, and the thought of Hillary Clinton becoming president terrifies them in a way that Obama doesn't. If electability is a bigger factor, it helps Giuliani.
True. But for that to happen, she's going to have to win, as you said, comfortably, and even though I think she'll win Iowa, I don't think it'll be by a large number of votes. Winning in Iowa though, by however few votes, will impact her wins in NH and elsewhere. So in that case, it could make the Republicans start to consider the electability issue a little more closely before it's too late, possibly resulting in a Giuliani or McCain win.
Even if they get the chance to think about electability, I don't think they'll do it very wisely. This was my beef with the Democrats in 2004, when they nominated one of the candidates least likely to win the general. And if the Republicans nominate someone like Romney, they'll be repeating the Democrats' 2004 mistake.
Also, if it looks like Clinton is running away with it, then some of those New Hampshire Independents might gravitate towards the GOP primary in NH, rather than bother with the non-competitive Dem. race. I would think that Giuliani would be more likely to win some of those Independents than Romney.
That's true too. I would hope this might help Giuliani win there, because he's going to need one or the other (IA or NH) to get the nomination. Rudy doesn't deserve the White House, but he does deserve to be the Republican nominee, especially considering the alternatives (excluding my pick Ron Paul, because everybody knows he's not going to win anything).