I think the main worry for the Canucks right now is that while they signed the Sedins, they had the Sedins before so they didn't get better, they just avoided getting worse... except they lost Ohlund and probably Sundin, so they did get worse. The one thing I really like about this team, though, is that in spite of the ridiculous offer they were trying to get(or, I suspect, that their agent was trying to get) the Sedins have a pretty reasonable contract for their production now, and most of the other players signed for a few years have reasonable contracts too. Assuming Luongo does the same, which I can't imagine he wouldn't, the Canucks will get their's eventually, I'd think. Kesler has been pretty vocal (lol, if you're familiar with the story) about taking less too so when his contract comes up I am sure he'll put the Canucks in a nice spot. When you have most of your core doing that it encourages the fringe and outsiders to do it, too... Vancouver seems to be getting a really nice culture going there.
They could really use a couple serviceable signing for this year, though. A D to replace Ohlund, maybe a couple 3rd or 4th line caliber signings... even with the Sedins they have just a ton of cap room (with their current contracts NHL players + Hogdson it's like 7m under) so they should be active in the next couple weeks. Once they add Sundin in February they'll be in pretty good shape, but hopefully they sign Wellwood (so I can read more "with hands as soft as his belly" signs) for the mean time and find a D somewhere.
The West should be fun this year with Detroit and Anaheim getting worse, Chicago and Calgary getting better, and San Jose staying about the same. Add in the Canucks once they make a move or two, the Stars bouncing back... should be a real tight race again!