What the future holds for the East's also-rans

	Losing Bryan McCabe to free agency would be a blow to the Maple Leafs, who are stretched wafer-thin on the backline. Graig Abel/Getty Images
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Fans in 16 NHL cities went to bed Tuesday night finally knowing who their teams would face in the opening round of the playoffs. Fans in those same 16 NHL cities awoke this morning to learn when their first-round games would take place. And fans in those 16 NHL cities will spend the next few days buzzing about the Stanley Cup, which is just 16 wins away for one lucky team.

That's swell for the fans in those 16 cities. But what if you're a fan of one of the 14 teams that failed to make the cut? What do you have to talk about this morning?

That all depends on whether you're the type of fan who sees the glass as half full or half empty. Herewith, a look at the seven also-rans in the Eastern Conference. I'll evaluate the West on Friday.

Atlanta Thrashers

Half full: Franchise records for wins (41) and points (89) indicate a team heading in the right direction. The Thrashers boasted the league's fifth-best offense (3.4 goals per game) and sixth-best power play. Offensive centerpiece Ilya Kovalchuk set club marks for goals (52) and points (98) and, at 23, is still years away from his prime. A rejuvenated defense corps (featuring Braydon Coburn, Mark Popovic, Boris Valabik and Grant Lewis) is on tap for the next two seasons. Rookie goaltender Kari Lehtonen won 20 of his 38 starts, and it's easy to imagine the Thrashers would have picked up the three points that separated them from a playoff berth if groin woes hadn't sidelined him for 35 games.

Half empty: The Thrashers are likely to lose top pivot (and the NHL's third-leading assist man) Marc Savard to free agency this summer. He'll be tough to replace. The team's limp performance in their biggest game of the season, a 6-4 loss to Washington on Monday, was inexcusable. Some key forwards -- Slava Kozlov and Bobby Holik among them -- won't be viable contributors when the core rounds into shape.

The level-headed observer says: There's a lot to like about the future of the Thrashers, especially the potential strength behind the blue line and the game-breaking presence of Kovalchuk. With the hands of Bob Hartley, one of the league's premier coaches, steady on the wheel, and Lehtonen at full strength, you can pencil in Atlanta for a playoff berth in 2006-07. Heck, use ink.

Toronto Maple Leafs

Half full: The Leafs finally accepted the inevitable and integrated more young players into the lineup than they had done in a generation. Mats Sundin, who was the center of a ridiculous game of musical linemates that minimized his effectiveness for much of the season, netted 11 goals and 23 points in the final 12 games. Little wonder the Leafs went 9-2-1 over that stretch. After earning a late-season call-up from the AHL, goaltender J.S. Aubin did his best Tim Thomas impression, putting together a 9-0-2 run to finish the year. He's in position for the starting job next season and could hold the fort until top prospects Justin Pogge and Tuukka Rask arrive. The Leafs will have to add six to nine new faces, but they've got an unmatchable trump card: Toronto is an irresistible draw to a large number of free agents simply because so many grew up dreaming of wearing a Leafs sweater.

Half empty: With Tomas Kaberle as the only veteran under contract, the Leafs have to rebuild their blue line virtually from scratch. A good first step would be re-signing Bryan McCabe, but he's keen on testing the market as a UFA this summer. Mikael Tellqvist, the heir apparent in net, was a major disappointment, failing to win the starting job when Ed Belfour's season-ending injury opened the door. And while the team tried out a number of young players, only Alex Steen, Kyle Wellwood and Jeremy Williams have real impact potential.

The level-headed observer says: Old and slow finally are out of fashion, but acknowledging it and being able to do something about it are two different things. After years of dealing draft picks and valuable prospects for late-season pick-me-ups, the Leafs' cupboard is virtually bare. They have cap room to cobble together a solid team next season, but the internal rebuild necessary to thrive in the new NHL is several years away.

Florida Panthers

Half full: The late-season signing of star forward Olli Jokinen sent a loud and clear message: The Cats are on the right path and they'll do whatever it takes to keep moving in that direction. With Jokinen and Chris Gratton on board long-term, it should be easier to retain the services of Roberto Luongo, the key to any real hope the team has. Blue-chippers Nathan Horton, Jay Bouuwmeester and Rostislav Olesz all made excellent strides, and prospects Kendall McArdle, Anthony Stewart and Kamil Kreps could contribute as soon as next season. And, hey, the Panthers finished with a winning record for the first time in five seasons!

Half empty: The power play was a disaster throughout the season, and the team continues to put too much pressure on Luongo by allowing more than 34 shots per game, second most in the league.

The level-headed observer says: It's a great summer to be a Panthers fan. The pains of the long rebuild are paying dividends, and you can visualize this group easily surpassing this season's success in 2006-07. A playoff berth is just around the corner. Cup contention? Still a few years off, but if they keep this core together, it is on the horizon.