I've probably watched less basketball this season than the last 4 or so years, so here my predictions which should be taken with a grain of salt.
Celtics with a healthy KG are the best team in the EC. If he is healthy for the playoff run, I can see the Cavs giving them another good run but ultimately coming up short. I don't see how Orlando can even compete with the Celts. Speaking of Orlando, I really think this team is fool's gold. Howard isn't dominant offensively, but the team is a great defensive team unit. The problem is they'll face the Celts and Cavs who will overcome Orlando's defense while shutting down their offense. I don't think Orlando even makes it to the East Finals--and I think losing Nelson hurt them immeasureably. The Cavs could come out of the East but I think they'll need KG to be really gimpy.
The West is even more of a lock. The only team in the West that could potentially make the Lakers break a sweat is San Antonio and that's with Parker playing at his highest level and Ginobili at 100%. The bad news for the Spurs is Duncan isn't even a sure bet to be 100%, much less Ginobili. With the injuries this year and Bowen massively receding, looks like age is finally catching up to the franchise. Portland should be the other team that very mildly scares the Lakers only because they match up really well---the problem is they're very inexperienced and will more than likely have a "happy to be here" attitude. Portland's time is not now. I like how Millsap and Brewer have come along in Utah, but they still tend go as Boozer and Williams go. Utah will need to play with an urgency I've yet to see from them the past couple of years to make any sort of noise this year. For the record, I'm still waiting for Boozer to be traded for a 25 ppg two-guard. In all honesty, the Lakers should steam roll the West. With Odom and, especially, Gasol playing inspiring basketball and Kobe being Kobe; there's not a close second out West.
If the Lakers meet the Cavs, it'll be 2007 revisited. The Cavs will get massacred and probably swept--they just don't have the talent to compete. They have LeBron and Phil Jackson will pull out all the tricks to stop him. Even if LeBron were to average 50 ppg in the Finals, I don't think the rest of the team puts up the other 50 it'll take to beat the Lakers. The Celtics would give the Lakers a better series, especially with a healthy KG, but will eventually succumb. Not having HC this year will really hurt Boston, and the Lakers will be strengthened by their run last year and the "revenge" factor. The Lakers will know its their turn and that will decide the close game in the final couple of minutes.