It is irrelevant. The Iowa Caucus is not a winner take all. It will have no impact since Santorum way behind in South Carolina. But it will matter to the media. They'll make a big deal out of it. It fits with the current trend lately of the press' piling on Romney as they did with the other frontrunner candidates. In the end, Romney will still be the nominee:
Republican officials say the final count of the Iowa caucuses puts Rick Santorum ahead of Mitt Romney by 34 votes, but no winner will be declared because votes from eight precincts are missing.Source
Romney, the front-runner in the race for the GOP presidential nomination, initially had been considered the winner by 8 votes in the event's closest finish ever.
Iowa Republicans are to announce the tally Thursday morning.
Republican officials, speaking on condition of anonymity because they weren't authorized to pre-empt the announcement , said Santorum would end up with 29,839 votes to Romney's 29,805.
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