Was it only a year ago that we dismissed the Nets as the Clippers East? How quickly times change. After new owner Bruce Ratner’s massive salary dump left fans dejected, general manager Rod Thorn quickly picked up the pieces. With a brilliant trade for Vince Carter, the Nets made a late run to the playoffs and served notice that they’ll be a handful this season.

What’s so impressive is that the Nets’ 15-4 finish came on the heels of Richard Jefferson’s wrist injury and subsequent absence. Now that Jefferson is back, he represents a huge improvement on the talentless hacks the Nets had been using in his place a year ago. (Stand up, Mr. Buford and Mr. Mercer. Hey, where do you think you’re going, Mr.Vaughn?)

That’s not the only change. Thorn used the off-season to solidify a bench that was a huge weakness last season. Although the signings of Shareef Abdur-Rahim and Robert Traylor fell through after each failed his physical, Thorn still managed to fill out his second unit with a trove of talent, including Marc Jackson, Scott Padgett, Lamond Murray, Jeff McInnis, and rookie Antoine Wright.

Thanks to those moves and the Carter trade, New Jersey enters the year as the overwhelming favorite in the Atlantic Division. The question is whether it can contend with the East’s big powers in Detroit, Indiana, Miami, and Cleveland. To formulate an answer, let’s break down the Nets piece by piece:

STRENGTHS

TRANSITION OFFENSE With Jason Kidd, Carter, and Jefferson racing up the court on fast breaks, the Nets should be a treat in the open court. Kidd and Carter already showed some transition magic at the end of last season, but adding Jefferson to the mix should be a recipe for even more highlights. Of course, few are better at orchestrating the open-court attack than Kidd, who excels at throwing alleyoops to streaking wingmen and is still one of the league’s fastest guards with the ball at age 32.

DEFENSE Throughout the Kidd era, the Nets have been among the league’s best defensive teams – a trait that carried them a year ago while the offense was shooting blanks. The catalyst is head coach Lawrence Frank. He’s as prepared as any coach in the league and gets a full effort from his players at the defensive end, partly because he rewards his best defenders with minutes.

Individually, Kidd is a perrenial All-Defense selection because he’s a clever help defender and is big enough to defend shooting guards as matchups dictate. Up front, power forward Jason Collins doesn’t block shots and rarely rebounds, but his physical play pushes post players away from the rim, and he’s one of the best in the NBA at taking charges.

PERIMETER SHOOTING The Nets’ inability to score from the outside was a major liability a year ago, but that changes in a big way with Thorn’s recent moves. Key among them is Carter, who is known primarily for his aerial exploits but is also among the best outside shooters in the game. Center Nenad Krstic improved dramatically toward the end of last season and is a potent pick-and-roll partner because of his ability to hit mid-range jumpers.

And if teams switch to a zone, Frank has a slew of shooters to turn to off the bench. Murray and Padgett are deadly from outside, while Zoran Planinic and McInnis also shoot well enough to keep defenses honest. Up front, the burly Jackson is surprisingly deadly from the top of the key.

WEAKNESSES

HALFCOURT OFFENSE Even with Kidd and Carter on the court, the Nets were one of the league’s worst offensive teams last season. Part of the reason was a miserable bench that lacked shooters, a weakness that Thorn addressed emphatically in the off-season.

Another reason was the Nets’ complete lack of a post option, and that remains an issue this season.Krstic is nominally the center, but usually hangs out on the perimeter instead of battling for real estate on the blocks. Meanwhile, Collins is a defensive specialist who scores once every lunar eclipse.

It’s not much better behind them – Jackson can occasionally post up but prefers to play the high post, while Clifford Robinson is strictly a jump shooter. In fact, the Nets’ best post player might be Kidd, who can take advantage of his size against smaller guards to draw double teams.

POWER FORWARD New Jersey’s lineup includes four high-caliber players in Kidd, Jefferson, Carter, and the rising Krstic. The fifth spot, however, doesn’t provide much in the way of anything.For all of Collins’s defensive skills, his glaring lack of production offensively and on the glass makes it questionable whether he deserves so many minutes. His backup, Robinson, is also a good defender, but his offensive game has been in rapid decline over the past few years, and he’s by far the worst rebounding big man in basketball.The only other option is Padgett, who is overwhelmed physically by most power forwards.Thus, in looking at the Nets’ lineup, one can’t help thinking the team has only four-fifths of a championship-caliber squad.

BENCH DEFENSE All the Nets’ starters are quality defenders. The second unit, however, leaves a lot to be desired. The cost of Thorn picking up so many shooters in the off-season is that most of them are poor defenders. McInnis has decent size but gets abused on screen-and-roll plays, while Murray and Planinic lack the mobility and tenacity to stop good forwards. Up front, Padgett is badly undersized for power forward and too slow for small forward, while Jackson is physical but unathletic.Of the key reserves, only Robinson is a quality defender, and he’s 93 years old.

PREDICTION

With Jefferson back, the bench upgraded, and Krstic continuing to improve, the Nets will score many more points than they did a year ago, and that should pave the way to a division title. Plus, with Frank coaching, the defense should remain top-notch. But in terms of matching up with the powerhouses in the Eastern Conference, the Nets still seem to be a player short. They won’t be blown away in a 4-0 firstround mismatch as they were a year ago, but the Nets again will fail in their quest to regain the conference title. This time, it will be in the second round, after a season mark of 49-33.

Mr. Hollinger is the author of the 2005-06 Pro Basketball Forecast.