Before the season started, I thought it would be a failure if we didn't make it to the ECF. With our additions combined with how we played last year, that was a reasonable threshold. I thought we were right there with Toronto with us having the slight edge. I would've been satisfied with a long, hard fought series with Toronto that we lost in game 7. So I'd say 50+ wins, home court advantage, and advancing to the ECF were my optimistic expectations for this season, and at the very least 50+ wins, home court advantage, and losing in the second round after a hard fought 7 game series with the Raptors.
Now with how we've seemingly flipped from an average offensive team and an elite defensive team, which I thought Horford would improve us in both categories, to a good offensive team and a disastrous defensive team (worst in the league since Christmas), I honestly expect us to get bounced in the first round with no other roster changes, which would be a total failure of a season. We still have a decent shot at home court advantage, though it wouldn't surprise me at all to see us slip to 4th or 5th in the standings. This just isn't winning playoff basketball that we're playing right now, and we have multiple weaknesses that can be easily exploited in the playoffs.
Right now, I'd really only feel confident playing the Hornets in the first round. I think the Wizards, Pacers, Bucks, Bulls, and Pistons would present a real challenge with our terrible rotation of bigs, lack of rebounding, and inability to stop their main offensive pieces, and they could possibly knock us off in the first round.