Boston and Baltimore look like they're ready to go. On paper it's easy to see why the Red Sox are being looked upon as favourites for the division, their lineup is stacked and the bullpen should be greatly improved. Baltimore could be quite frisky this year, the additions of Lee, Reynolds and Hardy give them a solid infield after last years disaster. On paper this is the best Orioles team I can remember seeing for quite a while.
The Yankees and Rays have some questions marks. The Yankees rotation looks very thin, I cannot imagine they'll go into the year with Nova and Mitre both starting - and reports have them talking to Bonderman and Jeff Francis among others. The Rays are the most intriguing. Although they are cutting payroll they presumably have the Matt Garza arb money to spend, and are probably in the market for a DH and a closer-type reliever. If they were to add, say, Vlad and Brian Fuentes they could be a very strong team again.
Just eyeballing the rosters I think the AL East is going to be even tougher than usual this year.