Abstract: Iterative MRI reconstructors produce intermediate estimates before returning a final image. We study these inference trajectories as a model-internal representation of realized reconstruction risk, measured by log-NMSE. Model-native states are projected to magnitude images, summarized by a fixed 16-dimensional descriptor, and mapped to risk using a source-trained ridge readout. Across three reconstruction backbones, trajectory features are strongly predictive of reconstruction risk on held-out source data. Under zero-shot target shift, their behavior is backbone-dependent, exhibiting both preserved positive association and readout reversal. Conditional analyses show that trajectory information can remain associated with error beyond an initialization-only predictor. A prefix analysis further shows that useful trajectory information can emerge before reconstruction completes. Repeated-mask and low-shot calibration studies indicate that trajectories primarily encode persistent case difficulty, while their orientation and calibration can change under domain shift.