Patriots- Early division favorite, assuming Brady can play well.
Dolphins- Defending champs but will have a much more difficult schedule.
Jets- Well, they're still the Jets. They haven't won anything of importance in 40 years, they won't this year.
Bills- Yeah, you have TO, but you have nobody that can throw him the ball, and nobody who can keep the guy who can't throw him the ball upright.
Here is how I see the division -- and the questions each team has.
Patriots -- won 11 games last year with a very serious case of the injury bug. Brady coming back instantly make the team better. Biggest question mark is Brady's health. If Brady is 90%+ the team has a shot at a Lombardi and/or breaking 2007 records on offense, even w/o Brady they can compete for the division.
Jets - Biggest question mark is Sanchez. If he can throw the ball half as well as Rex Ryan can jabber then the Jets will have a solid QB. But who is he going to throw the ball to? On defense the starters are extremely solid, best in the divsion, maybe in the league. But zero depth. Jets won 9 games with almost no injuries last year. Any sort of injury bug hits the Jets and they could be a four win team.
Dolphins -- won the division by a hair, much of the teams success can be attributed to a gimmick play and the team having almost no injuries. (I am not knocking the gimmick play anytime you can beat the Patriots by outcoaching Bill Belicheck you are doing something pretty amazing, but it was a gimmick play) Problem with the gimmick play is it lost effectiveness as the season wore on and teams knew what was coming. Can still be a useful part of the Dolphin's offense, but the Dolphins aren't going to win games by confusing a defense with it. Dolphins didn't make any significant adds to the team nor lose anyone significant. Depth is a problem. Questions for Dolphins 1) does Dan Henning have a second ace up his sleeve? 2) can the dolphins stay healthy?
Bills -- TO joining the Bills is the most significant player pick up of any AFCE team. Losing Peters was probably the biggest loss of the off-season by any AFCE team. If a Peterless offensive line can give Trent enough time to throw the ball then covering Evans and TO could be as much of a nightmare for a defensive coordinator as trying to cover Moss and Welker at the same time. Biggest question for the Bills is can the offensive line give Edwards time and is Edwards up to the task.