For both parties, the the candidates for 2008 break down the same way. We have the Hopeless, the Very Little Hope, the Maybes, and the Probablys. The Republican Hopeless field is very thin, as Representative Tom Tancredo (R-Hateful White Guys), Senator Sam Brownback (R-Jesus) and former Governor Tommy Thompson (R-Can't Remember) all dropped out before any actual votes were cast.
Who: Representative Duncan Hunter (R-California)
First elected as part of the 1980 Reagan Revolution, Duncan Hunter has served 13 fairly uncontested terms representing three different districts based in San Diego county. He currently serves as Chairman of the House Armed Services Committee. As part of his run for president, Hunter has announced he will not seek reelection to Congress. His son, Duncan D. Hunter has announced his candidacy to replace his father despite being an active duty Marine serving in Afghanistan.
Chances In Iowa: They would seem to be in the purely theoretical area right now, as Hunter routinely polls between 1% - 3% in national polls, and is routinely left off Iowa polls. He has been mentioned (primarily by fellow candidate Mike Huckabee) as a possible future Secretary of Defense. We've done worse