The thing is - You have to keep the players happy, and Lowrie isn't going to be happy in a super utility role. He's made it perfectly clear that he wants to be a starting infielder, so I don't know how long he's going to be able to be the super utility guy in Boston.
Having said that - if he puts up 15+ HR and an OBP of .370-.390, would it be so bad to have him as a DH/Utility infielder? Theo has stressed numerous times that he wants a DH with versatility, and that could be Lowries role in 2012, which would allow Iglesias to DH. Unfortunately, we would lose a lot of pop, but we would have a switch hitting DH with a high OBP that could replace any infielder almost seamlessly.
The more I think about it, the more that sounds appealing, especially at Lowries cost. It all depends on how he hits this year and if he can get through a season injury free.