Here's how i feel about season 2005/06.
Championship contenders:
No.1 contender is definitely... Chelsea. They have so many talents
available that they have at least 2 internationals playing in the
same position. In fact the amount of talent in the squad could work
against Mourinho at the same time as he need to keep all his stars
happy by giving them adequate playing time. That would mean
rotating the squad, which is not Mourinho's speciality. In fact
when he first came to Chelsea, it was revealed that his preferred
squad size is around 18. The season has just kicked off and alraedy
2 of his stars, Carvalho and Robben, have expressed unhappiness. I
foresee Crespo would be next if he continues to warm the
bench.
This yr Chelsea kicked off the season just as they did last term,
with cautious 4-5-1 approach, grinding out 1-0 wins and keeping
clean sheets along the way. If nothing goes wrong, they should be
challenging on all fronts again this time round.
Manchester united is the dark horse to the championship this year.
Having not won it for 2 yrs in a row, they would be hungrier than
ever, and they have shown that attitude on the field in the opening
games so far. In fact they have matched Chelsea's result with a
100% record and 0 goals conceded. The team looks very balanced,
with a dangerous 3-pronged attacking trio of RVN, Rooney and
Ronaldo. Plenty of experience in midfield in Giggs, Scholes and
Keane. Fletcher should be very involved this season and ready to
make the big stage on a regular basis. Park JS is a useful
addition. Defence has improved tremendously over the past 2 yrs,
with the addition of world's most expensive centre half Ferdinand.
Van der Sar is the goalie just what Fergie's looking for.
Experienced, steady, and consistent. They could nick it from
Chelsea if they can improve on consistency in the league, which
they sorely lack last term.
Arsenal? Sadly, end of an era for them. The power has
shifted...
Champions League hopefuls:
Liverpool. A distrastrous run of league results last term and they
still managed to get into the CL. Speaks alot about the quality of
compeition in the EPL, outside the top 3 that is. Pool has got a
big squad, solid central midfielders and hard tackling defenders,
led by Jamie Carragher. However their biggest weaknesses are
- lack of creative players (Luis Garcia is their best player in
that aspect; Kewell seemed dead and uninterested since his move
from Leeds, a pale shadow of his glory Leeds days; Smicer is at
best a fringe squad player)
- over reliance on Gerard; If he moves to join the galaticos at
Real or Chelsea, Pool is dead, simple as that
- lack of consistent goalscorer since Owen left; A number of top
quality strikers with big reputations at previous clubs has come
and failed to impress, Cisse, Morientes, El Hadji Djiouf, Baros,
(Crouch?)... the list goes on.
Middlesboro. Steve mcClaren has a quality squad at his disposal.
Despite the poor start, they should have quite a good chance to
make it to top five or six this year. Main rival for Liverpool to
take 4th place.
UEFA cup hopefuls:
Tottenham. Lets see how far Martin Jol can lead Spurs in terms of
league finish. If my memory serves me correctly, Spurs' best league
finish over the last decade is 7th during jurgen klinnsmann's first
spell at the club, during which they qualified for the uefa
cup.
Newcastle. Heads will roll if they dont make it.
Bolton. Has been consistently close for the past few seasons.
Charlton. Can Curbishly survive the usual late season slump this
time round to make it to Europe finally?
Man City. Narrowly missed out last term due to Robbie fowler's last
day penalty miss against Boro. With 'Psycho' Stuart Pearce in
charge, City have a good chance of improving on last term's
finishing.
Relegation:
The most interesting region of competition, in my opinion, for this
season 
So many likely candidates for 3 places... Sunderland, portsmouth,
wigan, Blackburn, Everton (yes, last season's CL qualifier
Everton!), West Brom, and Fulham. All of them are equally
poor!