The NHL is headed into the Olympic break with mixed emotions. On the one hand, league-wide revenue and attendance are up following the lockout, and the new rules have had an extremely positive impact on the sport’s entertainment value.

When NHL players last participated in the Olympics – at Salt Lake City in 2002 – the hockey was so compelling that the NHL product paled in comparison. This time around, the NHL’s rules more closely resemble those utilized in international play, so the league is hoping that the general sports fans introduced to hockey through the Olympics will adopt the NHL as the playoffs approach.

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For one thing, there has been a substantial increase in offensive production this season. Goal scoring has increased by approximately one goal per game, and there has certainly been the expected increase in power play goals, by about 50%. However, what’s most impressive is that even-strength goals have increased despite the fact that teams spend approximately 50% more time either on the power play or killing penalties.

With regard to individual performances, there has, of course, been the expected rise in production from the league’s offensive stars. The Rangers’ Jaromir Jagr leads the NHL with 36 goals and 83 points, and is on pace to finish with one of the highest totals of his Hall of Fame career. Ten other players are also on pace to score more goals this season than the trio who led the NHL with 41 goals in 2003-04.

One crucial reason for increased offense is the league’s crackdown on obstruction, but the changes made to goaltending equipment prior to the season have also played a role. Smaller pads are giving snipers more open area to shoot at. Exceedingly athletic goaltenders – or those whose positioning is very sound – have not suffered much. But the drop in league-wide save percentage from .908 in 2003-04 to .898 this season proves the change is having the desired effect.

That some of the best goaltenders from 2003-04 have suffered so tremendously this year (see chart below) only serves to inflate the significance of Rangers rookie Henrik Lundqvist’s stellar performance thus far. His .927 save percentage and 2.09 goals-against average are first and second in the league, respectively. Not far behind is Buffalo rookie Ryan Miller, whose .925 save percentage and 2.18 goals-against average also place him among the league’s best.

Most amazing of all, Lundqvist’s and Miller’s rookie seasons have been largely overshadowed by those of Washington’s Alexander Ovechkin (66 points), Pittsburgh’s Sidney Crosby (61 points), Colorado’s Marek Svatos (30 goals), and Calgary’s Dion Phaneuf (35 points). Put bluntly, each of those six players would have been overwhelming favorites to win the Calder Trophy in any of the previous 10 seasons, which surely bodes well for the league’s future.

Many of the league’s brightest stars will be converging on Turin next Wednesday, and the Olympic tournament should bring tremendous excitement as a result. Of the local teams, the Rangers have nine Olympians, while the Islanders and Devils each have six.

Team Canada is the prohibitive favorite in the tournament, and it’s a testament to their tremendous depth that the absences of Anaheim’s Scott Niedermayer and Vancuvers’s Ed Jovanovski (replaced by Florida’s Jay Bouwmeester and Toronto’s Bryan McCabe) won’t cause much more than a ripple. As long as goaltender Martin Brodeur remains on top of his game, the stacked Canadian lineup is a cinch for a medal and the likely gold medalists.

Nipping at their heels will be the Czech team, led by a quartet of Rangers. Rookie Petr Prucha was also expected to play for the Czechs in Turin, but a knee injury forced the Czechs to nominate the Devils’ Patrik Elias in his place, a change that certainly doesn’t harm their gold medal chances. The real question mark for the Czechs is whether Dominik Hasek or Tomas Vokoun will start in goal. The former led the team to Olympic gold in 1998, while the latter is a bona fide Vezina Trophy candidate this season. The better choice would be Vokoun, but Hasek might not be willing to play second fiddle, which could generate some compelling fodder for the Czech tabloids.

Lundqvist is expected to start for Team Sweden, and he gives them their best chance for a gold medal since Tommy Salo stopped Team Canada forward Paul Kariya in a shootout to clinch victory in Lillehammer at the 1992 games. The Swedes, however, are already going to be without star forward Markus Naslund, and an injured groin is likely to prevent Peter Forsberg’s participation as well. As a result, the Swedes should be expected to play a more defensive style in the hopes that Lundqvist can backstop them to glory.

Unfortunately, there are some dark stories that will surely take center stage at various points during the Games. For one, there is “Operation Slap Shot,” a gambling scandal focused on Phoenix Coyotes assistant coach Rick Tocchet, but also rumored to involve numerous other high-profile NHL personalities, including Wayne Gretzky’s wife, actress Janet Jones-Gretzky.

And then there’s Todd Bertuzzi, the hulking Vancouver Canucks forward whose nomination to Team Canada’s roster generated its fair share of controversy. Bertuzzi, of course, savagely attacked Colorado Avalanche forward Steve Moore during a game in February, 2004, and it can be rightly questioned whether that act should have disqualified him from Olympic participation.

But the hockey should prevail in Turin, for when the finest players in the world suit up for their respective countries, the quality of play and the passion quickly rise to a fever pitch. Team Canada is the favorite to come out on top, but some key injuries to their defense corps could pave the way for the Swedes, the Czechs, the Finns, or even Team USA to emerge victorious. The puck drops Wednesday, and before it does, The New York Sun will bring you an in-depth preview of the tournament, breaking down each team’s respective strengths and weaknesses.

Mr. Greenstein is the editor in chief of InsideHockey.com.