Considering how much the Eastern Conference improved over the offseason and considering how poorly the raptors were expected to play, I would have to say we are right about at par with those expectations. Nevertheless, the Raptors are still stuck in the middle of two extremes; firstly they could finish as the bottom-dwellers of the Eastern Conference and get a lottery pick, or on the other hand, they could finish as the seventh or eighth seed in the playoffs and hang in there for a round or two, if lucky.
Ultimately, the fate of the Raptors depends on what types of moves they make before the trade deadline and whether they can get on a hot streak following the All-Star break (a win against Miami in their final game before the All-Star break would certainly go a long way in making this happen).
Team Record after 40 Games
2009-2010: 25-15 (.625 win percentage)
2010-2011: 15-25 (.342 win percentage)
Rather than focus on the performance of the team as a whole, I will direct my attention to the progress made by the main players at each position, in particular the young and upcoming talents.