Lakers (57-25), projected 62-20 - Kobe's ticked for getting embarrassed in the Finals, a full year of Bynum and Gasol together is pretty scary. If Farmar develops at all, or if Fisher can shoot this year like he did last year watch out..
Hornets (56-26), projected 55-27 - Paul is amazing, but MoPete is a bust so far, and losing Pargo hurts more than they realize. Not a lot of bench depth at all on this squad. Getting Posey doesn't hurt, but they overpaid for him..
Spurs (56-26), projected 52-30 - Age will take a toll on Duncan and some of the older reserves. Not much to get excited about with their free agency and draft pick-ups. Still, Duncan is an all-time top 10-15 player, Manu is exhilirating to watch and Pop is perenially underrated as a coach.
Jazz (54-28), projected 55-27 - Brevin Knight and Koufos are together worth one more win.

Houston 55-27, projected 57-25 - If Yao and McGrady are healthy and Artest behaves, this could be the most dangerous team in the conference. Lots of ifs there, but Artest is a risk Houston had to take. I don't want to draw them again in the first round at any cost.
Phoenix 55-27, projected 50-32 - Shaq is going to miss at least 10 games. Hill and to a lesser degree Raja Bell are starting to show their age. The Suns will be fighting with Dallas, the Clippers and Portland for the last couple of playoff spots.
Dallas 51-31, projected 47-35 - Kidd was not a wise pick-up, nor was spending tons of money and Dampier and Diop. Howard seems more volatile than ever, this is a team that could go to the Western Conference finals if everything gels, but is more likely to be a playoff bubble team.
Denver 50-32, projected 45-37 - Dumb move #1 - Dumping Camby for nothing, dumb move #2 - Paying AI crazy money that ruins their caproom and dumb move #3 - trusting Carmelo with the keys to the car. Barring a mid-season trade that dramatically improves their team, don't expect to see most of this cast (AI, George Karl and others..) back in Denver in 2010.
Warriors 48-34 projected 43-39, losing Baron really, really hurts the character and makeup of this team. Maggette is a nice pick-up, but he doesn't play the 1. Marcus Williams as the only true pg on this roster? - Yikes.
Portland 41-41, projected 48-34 - yes, their opening schedule is brutal, and yes they are painfully young. They'll still finish well behind the Jazz, but this team will regularly beat the Dallas / Denver / Phoenix / GSW teams. With 2/3 of the talent and depth they have now, they beat the Jazz 3 of 4 times last year. Bayless and Fernandez? Good. Oden? Very good. Playoff chances and the chance to make some noise? Very, very good.
Sacramento 38-44, projected 30-52, just not much here to get excited about. Kevin Martin is a fine player but the Kings fans deserve a better lineup than this.
LA Clippers 23-59, projected 39-43, they will likely miss the playoffs still, but definite improvement in Clipperland evident. This is a weirdly constructed team - Kaman and Camby on the same roster??, but Baron brings instant marketability, and Gordon and Thornton's development may be fun to watch.
Minnesota 22-60 - Ehhh. Projection? Probably a little worse 20-62.
Memphis 22-60, projected 25-57, this may be an interesting team with some young talent in Mayo, Gay, Darko and younger brother Gasol but nowhere nearly enough competitive in this conference.
Seattle 20-62, projected 20-62. Durant and Green might be electric, and the fanbase will love them, but Westbrook doesn't really impress me, and heaven help us if they are named the Wind or something equally putrid. I can live with Barons and maybe the Thunder.