The Yankees project to have the top offense in baseball again in 2008, even with the expected declines by Rodriguez and Posada. I’ve got them projected to score around 930 runs this season.
Their defense won’t be particularly great with Jeter and Giambi out there, but Damon replacing Matsui should help a bit. I figure them to be about 15 runs below average defensively in total.
On the pitching side, Pettitte and Wang should be good for 400 innings of 4.00-4.25 ERA, so the Yankees will sink or swim on the backs of their young pitching. If they get an overall average performance out of them and an average performance out of the bullpen, they are probably a 95-win team. If they get a 5.00 ERA out of the non-Wang/Pettitte part of the pitching staff, they would be closer to an 88-win team.
This all makes sense, if you ask me.