I think the Cavs have a very good chance of winning in a series. They took Boston to 7 games last year with a worse team.
LeBron definitely has a better team around. Delonte West has come into his own, and Mo gives the Cavs someone who can create offense while LeBron is out of the game so they don't cough up leads as much when he is out. Then a lot of the Cavs reserves got valuable experience with all the injuries, Hickson is going to be a good one.
One big key will be who has home court, the team that gets the #1 seed will have the inside track to the finals. But the more I see the Cavs play even with all the injuries, the better I feel about their chances when they have their entire team back.