At the turn of the New Year, the Devils appeared to be on the verge of a complete meltdown. Larry Robinson had quit his post as head coach, and GM Lou Lamoriello was attempting to pick up the pieces. Amidst the turmoil, speculation was rampant that some high-profile players – perhaps even all-world goaltender Martin Brodeur – would be traded.

Enter Patrick Elias, who returned to the lineup on January 3 following his recovery from a lengthy battle with Hepatitis A. Suddenly, everything wrong with the Devils began to look right.

Since his debut, Elias has sparked New Jersey to an impressive six-game winning streak, and has compiled a team-leading +6 rating over that relatively short period. The team’s leading scorer for each of the past five seasons, Elias is one of the NHL’s finest forwards, and it’s clear his presence is crucial to the Devils’ success.

What’s interesting about New Jersey’s dramatic turnaround is that Elias has averaged 17:35 of ice time per game since his return, which means he’s been on the ice less than one-third of the time. It’s a commonly held belief that one player cannot turn around a hockey team’s fortunes single-handedly. But it’s become abundantly clear that Elias’s linemates, Scott Gomez and Brian Gionta, while solid players in their own rights, are far better when playing alongside Elias. His presence on that EGG line makes it one of the NHL’s most dangerous threesomes, one that will only improve as they continue to re-kindle their fabulous chemistry.

While Elias’s impact on the offense is unquestionable, his presence has also helped alleviate pressure on the Devils’ defense. The threat he presents – in particular with regard to New Jersey’s counterattacking capabilities – makes it far more treacherous for opponents to play aggressively. As a result, the Devils find themselves playing on their heels less often, instead taking the role of aggressors and bringing the play to their opponents.

For one primary example, Brian Rafalski’s season has completely turned around since Elias made his triumphant return. Rafalski has tallied eight points in six games while amassing an impressive +4 rating. He had scored only 21 points with a -7 rating in the previous 39 games, so it’s clear that the offensively minded Rafalski benefits tremendously when Elias is available to help convert his laser-like outlet passes into quality scoring chances.

Then there is Brodeur. The notion that the Devils would even consider dealing him was viewed by all but the least sentimental observers as an impossibility, yet his struggles were becoming extremely difficult to ignore. A knee injury suffered early in the season had temporarily robbed him of some mobility, and it was beginning to look as though his career might be done by the time the Devils finally reassembled a bona fide Stanley Cup contender.

But Elias has seemingly lifted a burden off the shoulder of Brodeur, who has quickly rebounded to All-Star form. In the six games since Elias’s return, Brodeur has allowed only six goals. In addition, he has earned his first three shutouts of the season, serving notice that New Jersey is once again one of the NHL’s most difficult teams to score against.

The way the team has responded to Elias’s comeback can also be expected to impact the strategy taken by Lamoriello as the trade deadline approaches.

The Devils were expected to be sellers, but they may instead look to make some upgrades. Not only has the team started to win, but four players have been extracted from the payroll (Alexander Mogilny, Dan McGillis, Vladimir Malakhov, and Krzysztof Oliwa), collectively clearing approximately $10 million of room under the $39 million salary cap.

So for the first time since last summer, Lamoriello has some payroll flexibility. He could choose to maintain the current roster, waiting until the off-season to spring for a big-ticket player. Ottawa’s star blueliners, Zdeno Chara and Wade Redden, are both expected to be available as unrestricted free agents. But he could also add a couple of impact players right now who could help the team make a run at the Cup this spring.

The St. Louis Blues are expected to deal both Keith Tkachuk and Doug Weight, both of whom would be a huge help. Weight is expected to be an unrestricted free agent this summer, while Tkachuk is signed for one more season. The Blues’ owners are in the midst of selling the team, and the opportunity to rid the organization of Tkachuk’s hefty contract might just make it worth including Weight in the deal.

Whatever Lamoriello decides, things are looking up for the Devils for the first time this season. No longer pinned to the limits of the salary cap, and with Elias in the lineup and sparking the offense, they will look to extend their winning streak to seven games when they take on the Blues in St. Louis tonight.

The Devils then have two more games this week – one at Nashville on Thursday and one at home against the Islanders on Saturday – before they square off against the Rangers on Sunday night at Madison Square Garden. For the first time in a long time, that Devils-Rangers game actually has playoff implications, and should provide a good barometer of just how far Elias and the Devils have come over the past few weeks.

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