Sky for me (I wouldnt have said that before now).
In the first two years there were obvious weak links in the team but looking at the 2012 roster its pretty hard to see any "passengers"
As others have said, best sprinter in the world with a decent backup group of Sutton, Appollonio, Swift
Decent GC Riders in Wiggins, Siutsuo, Froome, but not to the standard of Contador, Evans etc
Decent classics riders, EbH, Flecha, Hayman, Thomas, Stannard, with the potential of Uran in the Ardennes (he didnt do bad last year)
And plenty of up and comers, Uran, Henao, Puccio, Kennaugh etc
And blessed with domestiques/stage racers, Porte, Rogers etc
Dont have the stars like Gilbert, Cancellara, or a Contador or Evans and may not win monuments or grand tours, but will be in the top three again at the end of the year.
For me, BMC Second, but it will be interesting to see how the stars get on with each other.
Radioshack third, and the same can apply.