Normally, other local professional sports franchises wouldn’t be too happy that the Giants won the Super Bowl and stole their thunder, but not in this case. The Knicks and Nets are overjoyed that the Eli-to-Plaxico lovefest temporarily knocked their own dysfunction from the front pages; in fact, they might be happier if things stayed that way until April. Yet through no fault of their own, both teams find themselves in the midst of a playoff chase — if it can be called that — because two teams in the East are still likely to make the postseason despite records well south of .500. The Nets, believe it or not, are in possession of one of those slots at the moment, entering Tuesday’s play with a one-game lead over the Bulls for the eighth and final playoff slot.

The Nets are not good, of course — they’re 20–27, have played worse than their record would suggest, and are negotiating to trade their most prominent player. But they’ve done less harm to their own cause than seven other Eastern teams thus far, so in a “race” that would make most fans scurry away faster than Bill Belichick, they’re currently in the catbird’s seat.

Believe it or not, even the Knicks aren’t completely out of it. They sit 6 1/2 games behind New Jersey, but mere mild competence through the season’s final 34 games — say, a .500 finish — would put them at 31-51 and have them near the top of this sad group of teams.

So in spite of themselves, both of these teams are likely to be competing with the Hawks, Bulls, Pacers, Bucks, Sixers, and Bobcats for a playoff spot right up until the final weeks of the season.

Therefore, it’s time to size up the competition, such as it. Let’s take a look at the other contenders for the East’s last two spots and why they haven’t been able to make a more credible showing thus far. As you’ll see, the two local teams’ inability to separate themselves from this lousy bunch may be the greater indictment of their uninspired play this season. (All records through are Monday’s games.):

ATLANTA (20–24): They’ve won three of their last 10 … and by doing so, they’ve gained ground on most of the competition. They’re a game and a half up on the Nets for the no. 7 spot, and they seem like the one reasonably solid playoff bet from this group if they can avoid injury. Atlanta is last in 3-point shooting and ace shooting guard Joe Johnson is wearing down from overuse. And like most of these teams, Atlanta lacks quality depth other than ace sixth man Josh Childress. But the Hawks play solid D and their youngsters — Josh Smith, Marvin Williams, Al Horford, and Childress chief among them — are still improving.

CHICAGO (19–28): Billed as Eastern Conference contenders before the season started, the Bulls’ offense imploded as soon as the first ball went up. With Kirk Hinrich’s remission from star to scrub is the most notable change. Meanwhile, their trademark defensive intensity waned considerably, helping to get coach Scott Skiles fired, and last year’s big free agent coup, Ben Wallace, has declined rapidly and is on the trade market.

Nonetheless, I expect them to join Atlanta in the postseason. In fact, I’ll give them the most backhanded of backhanded compliments by saying they’re the most talented team of this group. Luol Deng and Ben Gordon are capable wing scorers, while Andres Nocioni and kids like Joakim Noah and Tyrus Thomas give them a strong bench. Meanwhile, the schedule is reasonably favorable the rest of the way and Chicago has pieces to make a move at the trade deadline, something most of the others lack.

INDIANA (19–29): New coach Jim O’Brien instituted a run-and-gun style that briefly had Indy on the good side of .500, but the defense is in tatters without interior ace Jermaine O’Neal. He’s on the shelf with a knee injury and might not be back for a while, and it leaves the Pacers without a shot-blocker or a quality low-post defender. As a result, Indy took a six-game skid into last night’s game in San Antonio. The good news is that the Pacers still have some quality players in uniform. Wings Mike Dunleavy and Danny Granger both are having their best seasons, and sweet-shooting power forward Troy Murphy has emerged of late. If oft-injured point guard Jamaal Tinsley can return to health, one still envisions the Pacers making a charge for the no. 8 spot. (A “charge” in this conference being defined as any 10-game stretch in which a team wins more than three times).

PHILADELPHIA (18–30): The Sixers had no expectation of being in the playoff race; in fact, they fired their general manager, Billy King, early in the season and then traded Kyle Korver to Utah to create cap space for this summer. Nonetheless, they find themselves in the hunt completely by accident, even after going 4–13 since New Year’s Day. The Sixers have proven surprisingly tough on the defensive end, and veteran point guard Andre Miller is having a strong season. However, they may trade Miller to try to open up even more cap space.

MILWAUKEE (18–30): Riding a 2–7 wave that includes a 43-point loss to the Sixers, Milwaukee is nearly as big a disappointment as the Bulls. The Bucks were banking on improved defense to fuel a playoff run under new coach Larry Krystkowiak. Instead, they’re worse than ever, ranking only 28th in Defensive Efficiency (points allowed per 100 opponent possessions), and their point differential is worse than every Eastern team except Miami. General manager Larry Harris is on borrowed time to try to fix things, and nobody would be shocked if the Bucks blow up their nucleus between now and the trade deadline. But if they ever guard anybody, this has the makings of a playoff team. Guard Michael Redd is one of the best shooters in the game and guard Mo Williams, center Andrew Bogut, and forward Charlie Villaneuva are solid complementary scorers.

CHARLOTTE (18-31): Typical of the Least’s other pretenders, Charlotte is 2–7 in its last nine. Nonetheless, the Bobcats are talking playoffs in their fourth year of existence and backing it up with their moves. Charlotte traded for center Nazr Mohammed earlier this season to shore up the frontcourt and signed point guard Earl Boykins last week to help out the guards. They also have a legitimate star in forward Gerald Wallace and more quality in guard Jason Richardson and center Emeka Okafor. Depth is a huge concern, though, and even with the signings the problem isn’t completely eradicated — witness the fact that Othella Harrington still gets minutes.

jhollinger@nysun.com