It is five victories too early to anoint the 2007-08 Detroit Red Wings as one of the NHL’s all-time great teams. But it’s certainly not too early to recognize their remarkable play this spring, as they’ve lost only two games (11-2 record) in getting to within one win of the Stanley Cup Finals. Judging by the way they manhandled the Stars in Game 3 of their Western Conference Finals, there isn’t much hope for Dallas to win Game 4 and avert a sweep, much less come back to win the series.

The last time the Wings won the Cup, back in 2002, their lineup was a who’s who of NHL All-Stars, containing no fewer than nine perennial All-Stars: Steve Yzerman, Sergei Fedorov, Nicklas Lidstrom, Brendan Shanahan, Igor Larionov, Chris Chelios, Brett Hull, Luc Robitaille, and Dominik Hasek. A tenth emerging star, Pavel Datsyuk, has since become one of the Wings’ most important players; his hat trick was the difference in Monday night’s 5-2 victory.

Assembling a roster of that magnitude would be impossible today, with a salary cap severely limiting teams’ abilities to horde high-profile free agents. Given that, general manager Ken Holland’s work in constructing this team is perhaps the most impressive accomplishment of all. Wisely, Holland made the choice long ago to build around his defense, and in particular the incomparable Lidstrom.

Over the past 16 years, Lidstrom has quietly put together the finest NHL career of any European-born player. He has been a fixture on the Wings’ blue line, tallying 938 points in 1,252 games while posting a remarkable plus-378 rating. He set the Wings’ all-time record for points by a defenseman (80) in 2005-06 and was the first-ever European-born player to win the Conn Smythe Trophy as playoff MVP (2001-02).

A perennial Norris Trophy candidate, Lidstrom is expected to win the award for the sixth time (and third consecutive season) this June. Incredibly steady in the defensive zone, Lidstrom’s position play is unmatched, making his offensive contributions all the more impressive. Perhaps most importantly of all, Lidstrom’s presence immediately turns his defense partner — whoever that may be — into an All-Star.

It was no coincidence whatsoever that Mathieu Schneider — an 18-year NHL veteran — enjoyed his two best seasons the years in which he played alongside Lidstrom in 2005-06 and 2006-07. Last summer, Schneider departed for Anaheim, and his numbers predictably slipped.

Meanwhile, Holland signed Brian Rafalski away from the Devils to play alongside Lidstrom, and the effect has been considerable. Rafalski is a better skater than Schneider, and the fact that he shoots from the right side makes him a nicer complement to Lidstrom on the point of the Wings’ power play. But the biggest reason why Rafalski has been such a success in Detroit is his strong positional play. After seven seasons in New Jersey, Rafalski evolved into an incredibly reliable blueliner, one who could be trusted in all game situations.

Another key to the Wings’ success is the play of young defenseman Niklas Kronwall. Injuries forced him to miss considerable chunks of his first two NHL seasons, but he started to make huge strides forward in 2006-07 (22 points in 68 games). This season, he broke out with a 35-point, plus-25 performance, and he’s been a consistently potent physical presence on the Wings’ blue line throughout these playoffs.

When Holland inked Kronwall to a five-year, $15 million contract extension last season, it seemed that it might have been a bit too much, too soon. But as is often the case, Holland is getting the last word, as his young rearguard looks to be a building block upon which the Wings can build for the next 10-15 years.

Of the other aforementioned All-Stars on that 2002 team, only Chelios and Hasek remain. Chelios, a 46-year-old marvel, has averaged the second-most shorthanded ice time per game for the Wings in these playoffs (2:51), behind only Lidstrom (3:30). And the 43-year-old Hasek, relegated to backup duty in the wake of Chris Osgood’s 9-0 run between the pipes, remains a very competent safety net should Osgood falter or go down with an injury.

The 35-year-old Osgood’s resurgence has been stupendous, and he’s become a worthy candidate for the Conn Smythe Trophy this spring. After incorporating some of the butterfly style, he was able to leverage the team’s stellar defense to post career-best numbers (2.09 GAA, .914 SV%, 27-9-4 record), and he’s been even better in the postseason (1.47 GAA, .935 SV%, 9-0 record). Having the prescience to believe in Osgood — and signing him to a reasonable three-year, $4.25 million contract extension earlier this season — is one more reason why Holland has consistently been able to construct a talent-laden, Cup-caliber roster.

Finally, there’s the team’s remarkable success at the draft table. Despite picking near the bottom of every round for most of the past 15 years, the Wings have consistently uncovered gems. Datsyuk was nabbed with the 171st pick in the 1998 Entry Draft, while Henrik Zetterberg — probably the NHL’s best two-way forward — was selected 210th overall in 1999. Holland’s trust in his scouts — and their consistently exceptional work behind the scenes — has allowed the Red Wings to continuously restock their organizational cupboard with top-tier talent.

There have been 20 NHL seasons since the first round of the playoffs was changed to a best-of-seven format (from best-of-five). During that time, the Wayne Gretzky-led Edmonton Oilers dispatched their foes with the most surgical efficiency, posting a 16-2 record in 1987-88. Should the Wings manage to finish off their sweep of the Stars — and then sweep their opponent in the Cup Finals — they would equal that impressive mark. But even if they don’t, there’s little question as to which NHL franchise is the best run. And judging from their constant infusion of young talent, the Wings are well-poised to remain competitive — if not outright dominant — for the foreseeable future.

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