AFCNorth: Ravens (Bias Bias, blah blah blah)
East: Jets
South: Colts
West: Chargers (duh)
Wildcards: I'll say either Patriots and Bengals or Patriots and Texans
NFCNorth: Packers (Even if Farve plays for Vikings)
East: Cowboys
South: Saints (Falcons close tho)
West: 49ers
Wildcards: Falcons and Giants or Falcons and Vikings
The Pats just aren't as good as they were two or three years ago. They'll still compete because there's enough there to do so, but to be as dominant, nah. It happens with every dynasty. The FO gets a little too complacent, as well as the rest of the team. A few years, they could possibly be back to that dominant state. I don't see it within the next season or so though. The Jets are a dangerous team, although their arrogance could end up being their downfall. The Colts will always be the Colts, but they just can't seem to get enough weapons or the right caliber players at the same time. I really feel like the AFC is a toss up between quite a few teams. The NFC, there's there teams that you can put in there off the top of your head and be right about them. Dallas, Minnesota(if they have Favre) and New Orleans. There's too many up and coming teams in the AFC, which could probably help argue that the AFC is the more competitive, even better conference. That's going to make a lot harder on the Pats and the Colts of the world.
I'm going to cut off now, because I feel like I'm rambling.
The AFC is much more competitive, tho NFC east is probably the toughest division in the NFL the rest is rather weak compared to the AFC. in the AFC there's 3 competitive teams in almost every division (all except the West) but in the NFC there's maybe 2 in each division.