The final quarter of the regular season is upon us. ESPN.com takes a look at each team at the three-quarter pole and projects each team's conference finish and Stanley Cup odds:

Dallas Stars (34-12-3-1)
This team has been able to hold off red hot Vancouver, thanks to an impressive 16-2-5 run since Dec. 27. What's been most rewarding for the Stars is they have accomplished these lofty numbers while playing within their abilities. While Mike Modano is on pace for a 90-point season and Jere Lehtinen is having a career year, the rest of the Stars skaters are having pretty much average seasons. Bill Guerin, Pierre Turgeon and Jason Arnott have all been bigger scorers in the past, and the team has fought through injuries to Richard Matvichuk, Ulf Dahlen, Brenden Morrow and Marty Turco. Under coach Dave Tippett, Dallas has been able to run out in front and win, play from behind and win, play gritty and sloppy and win, and play skilled and speedy and win. Much ahead lies on the shoulders of Turco, but the team certainly seems ready to deal with whatever the playoffs will throw its way.
Grade:
Expected conference finish: 1st
Odds to win the Cup: 4-1

Detroit Red Wings (31-17-9-3)
So are the defending champs a team with scoring depth and veteran leadership or a team prone to offensive droughts which struggles with goaltending? We'll have our answer no later than March 11 -- the NHL trade deadline. The Red Wings are loaded with talent and they added a key cog in the summer when they signed goaltender Curtis Joseph to a $9 million contract. However, this is an organization that does not like to see holes of any size. So with Steve Yzerman set to return from career-threatening knee surgery and Jiri Fischer trying to be ready for the playoffs, there are still some questions surrounding exactly how deep Detroit might be. Expect the Red Wings to assess their depth in the next two weeks and then act accordingly -- likely going after another top-four defenseman on the trade market. Then expect them to square things away and make a solid run through the end of the season.
Grade:
Expected conference finish: 2nd
Odds to win the Cup: 5-1

Vancouver Canucks (35-16-9)
The Canucks have asserted themselves in January and February, stringing together a franchise-record 11-game unbeaten streak (7-0-4) that included wins against Colorado, Detroit and St. Louis. Like Dallas, Vancouver showed its ability to get out early and win and also come from behind and win. That kind of mettle can prove invaluable in the playoffs. The top line of Markus Naslund, Todd Bertuzzi and Brendan Morrison is the best line in the NHL this season, but the Canucks also are showing depth in their forward ranks with strong play from Trevor Linden, Matt Cooke, Trent Klatt and Daniel and Henrik Sedin. What's more, goalie Dan Cloutier matures every game (and he's played in almost all of them). Good defense and gritty play can push this team over the top.
Grade:
Expected conference finish: 3rd
Odds to win the Cup: 8-1

Colorado Avalanche (28-14-11-6)
While the Red Wings actually went the extra round last season, no team appears more worn down by playoff success than the Avalanche. Colorado has been to the conference finals for four consecutive years and won it all in 2001. In their past four playoff series, they have gone to a seventh game. That grueling schedule and a few key trades have sapped the team of depth and energy, resulting in a miserable start both last season and this. However, the Avalanche righted the ship quickly in 2001-02 and they're getting around to it eventually in 2002-03. Led by a resurgent Patrick Roy and a reconstructed Peter Forsberg, the Avalanche has gone 11-1-2 in its past 14 games and crawled right back into the thick of the Western Conference playoff hunt. The team could be hurt or helped by the return of a healthy Joe Sakic. If it's the latter, watch out. Colorado is about to embark on a stretch where it plays nine of 12 on the road, so the real concern is whether this team is burning its playoff fuel a little too quickly. Watch GM Pierre Lacroix for a trade-deadline deal, but also realize this team has already tied up much of its future payroll in its current players.
Grade:
Expected conference finish: 4th
Odds to win Cup: 10-1

St. Louis Blues (31-17-8-5)
There are two burning questions in the Gateway City: 1) Has a season of fluke injuries strengthened or weakened this team? 2) Is the goaltending good enough? Basically, the Blues season comes down to all of that. This team has overcome as hard luck a year as anyone has had to face. Injuries to key players throughout the lineup make them extremely fragile heading into the playoffs. Will captain Chris Pronger (wrist) return? Can center Doug Weight remain healthy? Are key players like Keith Tkachuk, Pavol Demitra, Petr Cajanek and Tyson Nash vulnerable to further health problems? It seems this team could have a breakdown at any time. And yet, the biggest concern is in net. The injuries have actually forced players like Cajanek, Eric Boguniecki, Martin Rucinsky and Barrett Jackman to step up their games, so the Blues could be improved at season's end. However, they have to get stellar goaltending to win the West, and confidence is waning in the pair of Brent Johnson and Fred Brathwaite. Expect St. Louis to study a trade for a veteran like Sean Burke, Felix Potvin (if healthy) or Chris Osgood. Then, the health has to hold up for the rest of the team.
Grade: (considering what they've been through)
Expected conference finish: 5th
Odds to win Cup: 20-1

Mighty Ducks of Anaheim (28-20-8-4)
It seems a little strange placing the Mighty Ducks this high, but they've certainly earned the lofty perch. Anaheim is on a 13-4-1-1 run and everything seems to be falling into place. Team defense is greatly improved and the group of blueliners seems to be coming together nicely. Adam Oates, Petr Sykora and Paul Kariya have become one of the hottest lines in hockey (thanks in large part to the power play). And goalies Jean-Sebastien Giguere and Martin Gerber have provided solid netminding. The bottom line is the team is clicking and growing all at the same time. Plus, an added bonus is they're winning with playoff-style hockey right now and are learning what will be expected of them in a very tough postseason tournament. If any team could falter in the West and miss the playoffs, it's the Ducks. If any team could get in and fall flat in the first round, it's the Ducks. But … this team also could pull a real surprise. It has earned the right to be considered a playoff team, and it could be a handful for any Western Conference power in the first round.
Grade:
Expected conference finish: 6th
Odds to win Cup: 25-1

Edmonton Oilers (26-21-6-7)
The Oilers are what they are -- a wonderfully scrappy team that has to fly by the seat of its pants both off the ice and on. Edmonton's budget constraints mean that one mess-up, like trading for Jiri Dopita, can put a chink in their ability to compete. Still, Edmonton has Todd Marchant for now and has enough talent to stay in the Western Conference playoff race. Recent injuries to Mike Comrie. Ryan Smyth and Jason Smith have hurt the team and been largely responsible for a 1-5-0-1 slump. First the good news: Comrie is back in the lineup and all three could return to form before the trade deadline. Now, the bad: The schedule is a bear for the next three weeks, featuring eight road games and contests against Vancouver, Colorado, St. Louis, Toronto, Dallas and a few teams hungry to get into the playoffs. The Oilers' heart will be tested in that span, but they always seem to win battles when heart is all that's required. It's when they need extra depth and talent that they can't seem to beat the big guys with the big wallets.
Grade:
Expected conference finish: 7th
Odds to win Cup: 29-1

Minnesota Wild (29-22-8-1)
Give full respect to the Wild -- it has not faded when everyone predicted a downturn. Officially, the team is in a 4-6-1 slump, including losing three straight. Officially, the schedule is very tough in the next five games (St. Louis, at Ottawa, at Montreal, at St. Louis and New Jersey), but the Wild appears to have the depth and the stamina to hold off the likes of Chicago and Los Angeles. Marian Gaborik must snap out of a horrendous goal-scoring slump, but all indications are he can do that. In addition, players like Cliff Ronning, Andrew Brunette and Sergei Zholtok have to contribute more offensively. The team seems set on alternating Manny Fernandez and Dwayne Roloson in goal -- and that should be a good thing. This is a strange thought, but you wonder if Minnesota management is interested in jumping on the trade frenzy. The team has an $18 million payroll and is raking in cash with a ridiculous string of sellouts. Could a goal scorer like Miroslav Satan push them closer to the top? It's certainly worth debating.
Grade:
Predicted Conference finish: 8th
Odds to win Cup: 30-1

Nashville Predators (22-24-9-4)
While the Kings, Blackhawks, Sharks and Coyotes seem to be faltering based on expectations, the Predators are surging. Nashville was written off after a horrendous 2-10-4-4 start, but has gone 9-4-2 over its past 15 games and was on a four-game winning streak heading into the weekend. So what's the key? How about big-time goaltending. Nashville had surrendered three goals in the four-game winning streak and allowed just seven total goals in its last three losses combined. Tomas Vokoun has been tremendous since taking over for traded veteran Mike Dunham. He has a 2.25 GAA and a .918 save percentage and is in the top 10 among NHL goalies statistically speaking. In addition, youngsters like David Legwand, Denis Arkhipov, Kimmo Timmonen, Scott Hartnell and Vladimir Orszagh are starting to carry the team -- just as GM David Poile figured when he traded away all of his veterans.
Grade:
Expected conference finish: 9th
Odds to win Cup: 80-1

Los Angeles Kings (25-27-4-4)
You have to love what you have seen from the Kings in the past two weeks. Despite a horrible run of injuries and news that Jason Allison and Adam Deadmarsh could be out longer than expected, the team has put together as 6-3-0 run. A couple of East Coast road trips could suck any energy remaining out of the Kings, but this team could also jump up and respond to the challenge. Awaiting is a run against many potential non-playoff teams and a few key meetings with the teams LA is chasing in the West (Anaheim and Edmonton). Basically, they have to keep up that win two, lose one pace for the remainder of the season and they might be able to squeak in. The biggest question might be whether goalie Jamie Storr can handle the pressure of playing every game. Rookie Cristobal Huet appears unready to contribute for even one or two games. There's always Felix Potvin if he gets healthy, but that's a big if.
Grade:
Expected conference finish: 10th
Odds to win Cup: 50-1

Chicago Blackhawks (24-24-10-3)
The Blackhawks have the ability to rebound, but they might not have the chemistry. The Theo Fleury imbroglio of a month ago hangs over this team like a dark cloud, and there is little, it seems, that can be done now. Fleury is a distraction no matter how anyone phrases it, and the record speaks for itself. Chicago is in a 3-11-2 freefall. If you include three overtime losses and a couple of more ties, the Blackhawks have just five wins in their last 23 games. Wow! Eric Daze is battling soreness. Phil Housley is out with a broken foot (maybe thankfully, the way the power play was performing). And now Alexander Karpovtsev is sidelined with a broken cheek bone. Let's just say there seems little hope of righting this ship … and that could mean huge changes in the summer.
Grade:
Expected conference finish: 11th
Odds to win Cup: 150-1

Phoenix Coyotes (23-25-7-4)
It might be time to tear a page out of the Nashville playbook for the Coyotes. Yes, they're trying to sell a new arena and keep the sport vibrant there in the desert, where 100 other entertainment choices are distracting the potential hockey crowd. However, there comes a time when you have to patient and build. Nashville GM David Poile leaped off that bridge in the past year and is being rewarded with spectacular play from his youngsters. Phoenix's braintrust would be smart to do the same. Trade Sean Burke and get something for him. He's 36 and it takes a few years to build up a young goalie. Whether that be Brian Boucher, Zac Bierk (or Brent Johnson?), it's time to go with the new guy. It wouldn't be the worst thing to let go of Teppo Numminen or Tony Amonte, either, if they can be traded. Get some youngsters (Cliff Fletcher has done it before).
Grade:
Expected conference finish: 12th
Odds to win Cup: If they could throw sand in the opponents' eyes, it would help.

San Jose Sharks (21-28-6-5)
The Sharks can start packing for the summer … or for a new team (depending on the player). Simply put, there is no way on this earth that the defending Pacific Division champions are making the playoffs this season. To get 90 points, they would need 37 points in their last 22 games -- or an 18-3-1 record. Who knows where this ship has gone wrong, but it is definitely "wrong" right now. The question becomes who they should keep and who they should move. They want to get rid of Owen Nolan at almost any cost, and they'll probably also shed Bryan Marchment and Adam Graves if they can. If you look at the core of the team, it's young enough to bounce back, but there needs to be some tweaking in there somewhere. The question is: Can they tweak with new top six forwards and still stay within their budget? It will be difficult.
Grade: 0 pucks
Expected conference finish: 13th (13th!)
Odds to win Cup: It might as well be a million to one. There's no way they're getting into the playoffs.

Columbus Blue Jackets (22-29-6-2)
Well, at least we can be fairly sure that coaching wasn't the real problem with the Blue Jackets. GM Doug MacLean has gone 8-9-2 since taking over for Dave King and his team has lost its last three games. There's no shame in that, really. Columbus is an expansion team playing in a tough conference and is going to go through some growing pains. MacLean is trying to build a team with a little offense and that's tougher to pull off than what the Minnesota Wild is throwing down (if you need to make a comparison). And there is a small chance that Columbus actually ends up ahead of Minnesota in a couple of years (see Ottawa and Florida). That said, it might be time for a shake-up. More youngsters need to be involved in this team. More youngsters have to have roles among the top six forwards. Those players could be coming next season. They can't get here fast enough.
Grade: (they need to improve on 29 wins)
Expected conference finish: 14th
Odds to win Cup: No line

Calgary Flames (18-30-10-4)
On an individual basis, it's difficult to fault GM Craig Button for the decisions he's made. He definitely gave Roman Turek too much money and he could have been tougher with Jarome Iginla's contract, but, in general, he has built a decent team on paper. But there's an old hockey saying -- "You are who you are" -- and the Flames are a bad team. They have sustained small runs here and there, but this team has mostly been a consistent loser. If you take away the 13-2-4-2 start from last season, the Flames are 37-63-18-5 since Nov. 23, 2001. That's more than just a snapshot. Offseason or trade deadline moves will include trying to move Turek and probably unloading Bob Boughner, Rob Niedermayer and Dave Lowry. It's time for the kids to run this team. As for Iginla, he's a reasonably-priced superstar, but he needs better support. Long-term, he's closer to the goal scorer he was last year than the one he has been this year. Just look at his play in the Olympics and you know what this guy can do against the best in the world. Keep him and build around.
Grade: 0 pucks.
Expected conference finish: 15th
Odds to win Cup: For the seventh straight season … none.

Mike Heika of the Dallas Morning News is a regular contributor to ESPN.com.