We are not realistically a hope for automatic promotion – Leeds and Leicester are the strongest bets for that, and there are others who are also capable – but with the best squad we've had for years we are a great punt for the play-offs.
Defence and midfield is where the greatest strength is found. However, in striking terms, all our eggs are currently in one basket, namely, Adebayo Akinfenwa and Leon Constantine, and that is subject to full recovery from injury.
Bayo has trained this week and also got in a game behind closed doors at QPR where he scored, so hopefully we'll see him on the pitch on Saturday.
The two have played successfully together in the past but that counts for nothing now and if they do fail, our back-ups are weak unless Stuart Gray can prise a promising youngster on a long loan from a top club. He's been actively talking to clubs such as Ipswich, who know he has a reputation for helping to develop players.
The name of Jordan Rhodes has been mentioned as a target, but loan movements won't happen until the season is underway.
Colin Larkin has professed himself up for the job of striker but we've seen nothing yet to suggest he'll be the answer.
I wish him well, and I'm already on record as saying that if he ends up among the division's leading scorers, I'll be delighted to watch the last home game of the season from a bath of baked beans.
We have good midfielders and wide men who can chip in with enough goals to keep us afloat, so Akinfenwa and Constantine must hit the net up front to push us that one step further.
Constantine on his own looked sluggish in pre-season, no doubt he is now fitter.
Against decent pre-season opposition, our strike rate without the two of them together has been nil.
Ryan Giligan probably also has an itch to prove himself as a main scorer, but his best contribution so far has been as a destructive dynamo.
Friendlies are necessary for player fitness levels, but rarely illuminating enough for spectators to begin to predict the forthcoming campaign.
I found it a numbing game at Brackley, and a tolerably entertaining one against QPR at Sixfields, but mercifully kept my money in my pocket for the other fixtures.
The brightest new light has been left-sided Liam Davis, signed from Coventry. Fans may miss the mercurial talents of Daniel Jones, back with Wolves after his lively loan spell here last season, but Davis is an even better player up that flank, with tighter ball skills and a good turn of pace, and could prove to be a match-winner.
Another newcomer with potential to enrich our season is midfielder Abdul Osman. He won't be playing against Cheltenham on Saturday because he still has a suspension to serve which he picked-up while in Scotland, but I'd be very surprised if he was not a regular choice by Christmas.
Ian Henderson must be aware that he needs to find sustained form to keep his head above water in this talented squad. He blew hot and cold last season but he scored in the 2-2 friendly on Tuesday at QPR.
While we wait for Akinfenwa and Constantine to produce the goods, behind them the picture is a good one.
Gabor Gyepes is such a class act we can only hope that he gets his Championship football with us next year rather than being bought up by another club.
If that happens it'll be a financial bonus for the Cobblers as he has signed to the end of the season. Great credit is due to the Cobblers' training and remedial team who have performed miracles with men who had been written-off as crocks.
Chris Doig and Mark Hughes will be watched closely to be sure their injury niggles are behind them, and if so there are few better defenders in the division.
The spark and skills of both Jason Crowe and Danny Jackman can be slotted into many positions - Crowe has a year left on his contract but is in talks about an extension, while Jackman has extended by a year to make him ours for two years.
Giles Coke is now at the point where we can expect him to become the creative midfielder who also has an eye for goal, though he turned his ankle in training this week and is a doubt for Satuday).
And then there is Mark Bunn - probably the best goalkeeper outside the Premier League.
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