Shevcenko and Ballack arrived alonside two young strikers. Only players which couldn't contribute to Chelsea game went. They started to fade away and club like Chelsea doesn't tolerate that. Mourinho is chess-player which succesfully changes the chessmen. Professional football is cruel. Ask Italian players from less known clubs which change their clubs every 6 months to year...
Chelsea will win Premiership title for the third time in the row. This is their era. But, this time that will be much harder. Liverpool and Arsenal are hungry but, at the end, they will fight for the 2nd place. Wenger is persistent and his work ethics provides results. This is the last season in which Benitez can live on the wings of his Istanbul succes. They have stronger team every next year. They beat Chelsea. That will be huge stimulation for them.
I really don't understand Manchester United policy. It seems that Ferguson, stubborn like he always was, refuse to take different approach. That gave him trophies in the 90's but this is different time. I don't like to predict but they'll have problems with Tottenham to keep their place in first 4 teams in the league. Spurs got Berbatov and Zokora. Their rise will continue.
I think that the newcomers, Wattford, Reading and Sheffield United are the closest to be relegated but nothing is sure in England. You have huge group of teams which can be sensation in the League but also the biggest disappointment. You'll find there all other clubs - Wigan Athletic, West Ham United, Newcatsle United, Middlesborough, Aston Villa, Everton, Charlton Athletic, Fulham, Manchester City, Bolton Wanderers, Portsmouth and Blackburn Rovers.
This will be very interesting season. It will have more people at the stadiums (not only due to Arsenal new home), more new young prospects and more money to bookmakers. Overall, one of the most promising seasons in the past years.