So I've broken down the rosters for the teams in the East, and here are the rankings I've come up with (for this season).
I think the Knicks have the most well rounded team overall. Not really any major holes, and all their players are healthy (I think). I'm not conceding my Nets would lose, however, in a H2H matchup.
I had to penalize the Heat slightly, as the overall back-court situation is a little weak, and the two best players in the back-court are currently injured. The Bulls, Hawks and Wizards also were penalized for injuries. If any of these teams gets their injured players back, I'd move them past the Celtics.
The team sitting on the outside looking in, is the Bucks. If Gasol (Wizards) is unable to come back healthy, I'd probably knock them down a bit, and slide the Bucks into the 8th spot.