I think it's a pretty safe seat. Bachmann took 50% last time with two opponents and it's a three way race again. She's our-raised her opponent two to one. If the DNC throws money in, then the RNC may be forced to as well.
Have you seen the latest poll? Bachmann is only up by 3! And this is before the $1 million onslaught. She is DailyKos' #1 target this year, now that they managed to hire a driver to hit and run Jean Schmidt.