Looks like Friday night might turn out to be a credible event.
There will be blocking and there will cold air. That could lead to significant snow.
This type of system has something called "Cold Air Damming", or CAD, which means that cold air has funneled down into an area and isn't moving. It essentially acts like a dam for the cold air. When this happens and moisture goes over it, the rain/snow line won't move as moisture moves over it. You might look at the radar and see that line 5 miles from your house and think it'll changeover to rain soon, but never does. Because that cold air is just stuck there.
With this system, we have that, plus we have blocking which means that one the system moves over the cold air, now the moisture has no where to go. So you have cold air and moisture just stuck over the area. This can lead to heavy snow. If we see an event like this in late fall or early spring, it usually ends as rain, washing away whatever amounts totaled up earlier. But because this is near the heart of the coldness of winter, it might only end in a drizzle or just ice.
Now, it's Monday and the storm is Friday night. So a lot can change. And almost always does. But this is definitely something to watch. It's not quite a thread the needle type storm, but a lot of things have to happen just right, otherwise we could see another dusting of snow that's washed away by late rain.