Currently the Iowas has 32 Tomahawks and 16 harpoons which gives it longer range and more missiles than its Russian counterpart(20-shipwreck and 14-silex). The Kirovs have better missile defense, but if recommisioned the Iowa would most likely have upgraded missile defense. The Iowa is only one not slower than the Kirovs without any upgrades to it propulsion. If missile attacks were successful the Kirov would sink while the Iowa would be able to limp her crew home. If missile attacks failed and the fight came down to a close in fight the Iowa would obviously have an advantage. The WWII technology of the Iowa class battleship has survived encounters with Russian weapons systems in Korea, Vietnam, and the Persian Gulf. Lets not forget the Russian Navy has never had a successful naval engagement against another blue water fleet. The fighting spirit of the United States navy was proven at the Battle of Leyte Gulf. If an Iowa was sunk by anything, but an aircraft carrier it would take the other ship with it.
Lets also not forget that only one American battleship has ever been destroyed do to enemy action. This minor footnote in history occurred on the morning of Dec. 7 1941. The victim's name was the USS Arizona. So the obsolete arguement is highly dependant on how the ship and overall fleet are operated. The damage obsorbing ability of a battleship is incredible. The West Virginia obsorbed 7 torpedoes during the Pearl Harbor attack and was able to return the punishment at the Battle of Surigao.