Let me put it this way...given what they had, i wouldnt have given Man-shitty a chance....however given what they have brought in thus far and what is possibly still coming before the transfer window closes, I reckon they will be right up there toward the end of the season.
Look at the fixture lists and u will note that the big guys play each other early...so once the teams with new players start to gel, then end of season will be close.
If Liverpool can keep their current squad together and fully fit for the season...they will be contenders, however if Stevie, Torres, Mascherano, Kuyt and Johnson should leave...it will be very tough to even finish in the top 10.
Chelsea, Manure, Arsenal, Shitty and Spurs are in with a solid chance given their squad additions