With Mitt Romney, Rick Perry and Jon Huntsman not participating in what is already an event of dubious predictive value, the Ames event became little more than an opportunity to consume large amounts of beef, gossip and alcohol with my fellow journalists…

The odds that the eventual winner of the Iowa straw poll will be the GOP nominee next year are quite small (though not zero). And any event where Rep. Ron Paul (Texas) can finish in the top three probably doesn’t measure anything that needs to be measured in a presidential race…

All of that won’t stop the cable TV networks from nonstop coverage before, during and after the results are announced Saturday, and you are likely to hear more predictions and analysis than you’ll ever need about the event on TV and in print. Just remember that most of it is likely to exaggerate its importance.