Iowa State is a real contender as long as they get to play their tournament games at home. Away from home, I would put them in the worth mentioning category.
Everyone of these teams has deficiencies and real issues. I do not trust Purdue’s backcourt, Houston’s offense, Kansas’ depth, Duke’s talent level, UNC’s chemistry.
So now were in the "giant killer" category where a team doesn't generally do well, but could surprise a really good team. This ought to be embarassing to Cow and the players, but it probably isn't.