They have a few quality wins on the schedule so far...Pittsburgh, Washington, a couple against NJ, Chicago, Detroit to name a few...mostly though, they've been feeding on the detritus of the Eastern Conference (and there's A LOT of detritus this year in that conference).
I think they're a few pieces away from a Stanley Cup bid, but who knows what could happen if they get hot during the playoffs? A lot will depend on if they're able to hold off Ottawa from stealing first place in the Northeast Division.