These were posts taken from another board by somebody else, but I think the argument is a valid one and extremely interesting.
The Yankees still don't stack up against the Red Sox in bullpen, line up, or rotation. The biggest problem with the Yankees is depth.
In terms of positions, the Yankees are clearly better at 3B, C (providing Posada still can play), SP1.
The Red Sox are clearly better at LF, 2B, RF, SP2, SP5, DH, Bullpen, and Bench.
I give 1B, SS, CF, SP3 (Matsuzaka and Wang), SP4 (limited innings from Joba and Smoltz). as close or toss ups.
The real problem happens if the Yankees endure one major injury. The Red Sox have far more depth.
Derek Jeter is horrendous defensively. He would need to hit a lot better than last year to justify him staying at SS. I assuming his defense will get worse this year being he is turning 35 in June.
I don't really consider Aceves depth. I don't see him substaining his numbers from last year. He was a 25 year old blowing away High A and AA hitters. He seems more like Ian Kennedy redux than anything else.
That leaves Hughes who will have to pitch because there is simply no way Joba is going last a full season as a starter. So that means you are relying on Burnett (good jesus), Sabathia, Wang, and Pettitte each to give full seasons else you are in AAAA starter hell. Thats assuming Pettitte will bounce back.
The Yankees Rotation is highly overrated and suspect.
As for the Gardner/Swisher/Molina (or who the hell knows if Posada can't catch)/Berroa bench, That simply is not that impressive outside of Swisher. I suppose Molina is a good backup but we have no idea if he will actually be a backup.
I still see the Yankees as the third team in East. They made minimal improvements in offense (Giambi and Abreu are just a little worse then Teixeira and Nady). Their defense has become better. Their rotation will be better but I still think it is the third best in the East (too many people are taking Burnett and the over on 25 GS). The bullpen is also probably the third best in the East.
I think it is going to be a fight to for any team in the eat to get 92 wins. If the Yankees are expecting 95+ they are in for a rude awakening.