Less certain about the west. However the east will look like this:
Rangers over Sens (Sens could get lucky if Lundqvist is bad)
Bruins over Caps
NJ over Panthers
Pens over Flyers (won't be easy, but pens should be able to take it)
Rd 2
Rangers over NJ
Pens over Bruins (won't be easy, but they should be able to do it)
Pens over Rangers
And to Philly fans... this series is going to be a war... however without Pronger and potentially without Grossmann and Briere (not sure of their status), Pens have the edge. That being said, I'd still rather face any team instead of Philly in the first round.
And one of the reasons I hate how the format is. Florida should be 6th or whatever their points give em... and the Pens and Flyers wouldn't have to match up in the first round.