Yes, the polls are not an accurate gauge to tell us what the story really is. They usually take shortcuts with their polling methods and have tiny sample sizes. Even with that being said, it's unlikely that Rand will outperform the abysmal polling numbers by a 20% increase or more, which is what is needed for an Iowa victory. He is going to do better than the average polling numbers we have seen, but not so much better to take a victory. And yes, him and his results, whatever they may be, will be either downplayed or largely ignored, just like his father. He could still dominate the caucuses due to a strong ground game and active caucus participants picking up a plurality of delegates, but the media and the people do not care about that, nor will they acknowledge the fact that the straw poll is meaningless.
Who knows, there is still time left, to have a Santorum Surge or something similar. Been waiting and hoping for that to happen, but alas it has not thus far.