My list (in no particular order):
1. Utah Jazz - It doesn't really take someone smart to figure this out. They lost two hall of famers and the heart of the team stood in both of those guys -- Malone and Stockton. Let's face it, Kirilenko and Harpring are good, but not good enough to lead the team to the playoffs. Clark might be able to add some offense to the team (that was a great trade they received from the Kings). They failed to sign Brad Miller and Maggette. I don't expect too much from the Jazz this season, unless a miracle happens.
2. LA Clippers - Almost every year, we've always said that the Clippers are finally going to make it to the playoffs. This off-season, they lost three important players in their core from last year: Olowokandi, Odom, and Miller. They did a smart and obvious move by matching both Brand's and Maggette's offers. They don't have a pointguard capable enough of bringing in a solid performance each game. Jaric may be able to fill in that position for a while as long as he continues to improve his skill.
3. Atlanta Hawks - They're in rebuilding process.. once again. They only have two players they still have that can give a decent performance are Terry and Abdur-Rahim. However, their bench looks to be a bit weak. They're planning on landing some big time free agents next season but money isn't the only factor to consider when signing getting a player to sign with your team.
How about your list?