The Knicks are way underrated. Amare will have a rebound year, he has been working on his post-moves with Hakeem Olajuwon, and Raymond Felton brings out the best in him. Carmelo Anthony and Tyson Chandler were great into the olympics, and I think that will translate to the regular season. We've got way more depth now, too. Our veterans can really help, Jason Kidd is a nice pass-first point guard, and Marcus Camby is a solid bench player to come in for Tyson Chandler. Also, with the addition of Ronnie Brewer, our defense is going to be great, as well. JR Smith and Steve Novak will continue to fire from the bench. Lastly, they've never had a full training-camp together, that's a big change for the following season, and that'll be huge for them. I think the Knicks can do big things next year. They are probably, in my opinion, at least the 4th seed, but can go up to the 2nd. I wouldn't be surprised if they make it the ECFs this year. Also, you can consider how weak the East is, that will probably boost the Knicks status up some more.
Also, the Bulls are being overrated. They lost Derrick Rose and the "bench mob," they're a first round exit for sure.