But Simpson knows the Shrews will have to up their game to progress past Roy Keane's men after falling at the first hurdle against Carlisle last season.
"I think it's a wonderful draw," Simpson told the club's official website. "It's a club steeped in tradition, always play good football and I'm sure with Roy Keane in charge of them now, they'll continue to try and play good football.
"It will be a tough test for us and it's a game that we'll look forward to, and hopefully we'll get a good draw for the first league game as well and it will set us up nicely for a tough game against a top championship side.
"I think we showed last season at home that we can be a match for anybody and it's a game that, if we're right and Ipswich just have a little bit of an off night, we could be okay but it's not a game we're going to fear."