Thoughts on the rest of the divisions, starting with the AL West.
Angels
No doubt they'll miss Lackey. And it's likely that Brandon Wood won't be as good as Figgins. But they have a fairly deep rotation, a good bullpen, and no glaring holes in the lineup. And Scioscia gets the most out of his teams year after year. I think they're still the team to beat in the division.
Rangers
I think there's going to be some of the plexiglass principle in play here as I don't see the Rangers holding on to all of their gains. They do have a very bright future though, their minor leagues are stocked, but I think there are going to be some growing pains along the way. They could win the division, but I like their chances much better in 2011 and 2012 than in 2010.
Mariners
Jack Zduriencik undid a lot of damage by his predecessor in short order. They're a fascinating team as noone has embraced defense as much as the Mariners. They really might have a historically great defensive team. OTOH, I can see the plexiglass principle being at play here too. The offense will likely struggle to score runs and they overperformed their run differential last year. Figgins and Lee will help, but that just might get them back to where they were. I don't know how much Griffey has left in the tank. The back end of the rotation is suspect. Even though the Royals don't show it, fixing gaping wounds is the easy part, getting from decent to playoff caliber is the hard part. If they're really going to make a run, I expect that they need to make an impactful inseason trade.
Athletics
I'm not quite as down on the A's as some others. The pitching staff appears to be relatively fine, although I expect growing pains from some of the younger starters and who knows what they'll get out of Ben Sheets, beyond giving some younger guys some more time in the minors. The offense is really lacking in impact bats though, even though Beane has done a good job filling in some holes. Moving on from Eric Chavez and Bobby Crosby was well overdue. I don't get the Coco Crisp signing either. I could see them being surprisingly competitive in the short run, although I can't see them sustaining over a full season.