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Somebody asked me today if I thought the Yankees would make the playoffs and at this point it's really hard to know because we don't know where free agents like Alex Rodriguez, Torii Hunter, Jorge Posada, Andy Pettitte, Barry Bonds, Mariano Rivera, Curt Schilling (or so it seems), and others will end up.
Pitching help, which the playoffs clearly showed us they desperately need, is just not there this offseason. So if they lose Pettitte and if Clemens retires for good, Wang will be about the only sure thing in their starting rotation. Phil Hughes certainly shows signs that he is ready to be a productive big leaguer, but it will still be his first full season, so counting on him for much more than 14 wins is a stretch. And let's not forget about how difficult it will be to replace A-Rod and (potentially) Jorge Posada.
So basically they're looking at question marks at catcher, first, third, starting pitchers 3, 4, and 5, plus they need to find a closer (is Joba Chamberlain ready now?), all with a brand new manager. And it's not like Boston, Cleveland, Detroit, LA, or Seattle will be getting significantly worse.
That's why my answer was no.