Assuming Kobe comes back healthy, I'd argue the Magic are legit title contenders. That's a helluva team you got there.
Other faves:
Boston - Kyrie will love that PNR game with Gasol and Kanter.
New York - Two elite bigs (with different skill sets) paired with Rondo? That's nice.
Brooklyn - Don't sleep on the Nets; they have good pieces in place.
Philly - Should be a super-fun team. I love Curry and Boogie together, and Favors should improve.
Chicago - Big Jrue fan here, and I think Chandler is great next to Aldridge.
Indiana - Potentially frightening duo.
Cleveland - Superb trio. KG!
Detroit - TOTF right here.
Milwaukee - Conley and George together = grand theft auto backcourt.
Miami - The floor is spread! I like Hayward and Parsons on the wing.
Atlanta - If healthy, very scary. Truth!
Washington - Wall and Thompson is an excellent backcourt, and Noah brings a strong backbone for the interior D. Strong core.
San Antonio - Potential for awesomest locker room ever (In all seriousness, wonderful blend of scoring, defense, and rebounding.).
Memphis - Ily and Pek are great pick-setters for CP3. Great squad so far.
Houston - Trade one of the bigs for a solid PG and BAM! you're the favorite in the West.
Dallas - Fast breaks galore!
Lakers - This is the best frontcourt BY FAR. I love the duo.
Clippers - One word: athleticism. I like it.
Golden State - It's okay Roy, people will be watching your team this year. Fun, scrappy squad.
Phoenix - Sleeper in the West. TD and West will be great, and Butler is only going to get better.
Portland - Scary wings, scary wings everywhere.
OKC - Fun offensively, very good defensively.
Denver - These young boys will be putting points on the board.
Minnesota - Potentially mind-bogglingly soil-your-shorts-if-you're-the-other-team scary on defense. Ibaka is a good fit next to LeBron.
Good luck to everyone!