At the end of September, the Bucks shook up the NBA with the massive trade of Portland Trail Blazers All-Star Lillard. An already imperious team led by two-time MVP Giannis, the thought of the pair playing alongside each other sent shivers down the rest of the East and made the Bucks the overwhelming favourites to become Conference champions.
However, about a week later, the Celtics themselves made a major acquisition, bringing in Jrue Holiday (33) from their closest rivals the Bucks to suddenly make it a two-horse race again.
With the addition of Holiday to go alongside superstars Jayson Tatum (25) and Jaylen Brown (26), the Celtics are a more complete outfit, and they now have all the tools to become Eastern Conference champions in 2024. They probably have a deeper roster than Milwaukee too, which could give them the edge.
The Bucks suffered a shock first-round exit in the playoffs last season at the hands of a Jimmy Butler-inspired Miami Heat, so they will be determined to put that right over the coming months. The same Heat team beat the Celtics in Game Seven in the Conference Finals, and after losing in the NBA Finals in 2022, Boston's desire for the title will be stronger than ever.
It is simply impossible to look past either one of these two teams. A meeting in the Conference Finals would be a mouthwatering proposition.
But who are their closest challengers? Immediately, the Heat spring to mind.
The Heat needed the play-in tournament to make the playoffs last season, but went on a stunning run to make the NBA Finals, before being swatted aside by the irresistible Nikola Jokic (28) and the Denver Nuggets.
They are expected to do better in the regular season this time around, and then potentially go on and overachieve in the playoffs once more. They will be disappointed that they missed out on Lillard though, who they coveted for a while.
It's impossible to predict what the Philadelphia 76ers will do this season. Yes, they have the current MVP and scoring champion Joel Embiid (29), but in all likelihood, they will be without James Harden (34).
Harden has been pushing for a move all summer, and missed Thursday's practice due to 'personal issues'. The LA Clippers look the most likely to acquire him, which will significantly weaken the 76ers. However, they should still be good enough to make the playoffs.
The Cleveland Cavaliers and New York Knicks are two teams trending in the right direction, with expectations particularly high for the former.
The Cavs strengthened with the likes of Max Strus (27) and Georges Niang (30) to create a far more prolific team around Donovan Mitchell (27), and they will want to make a real impact this season.
Intrigue surrounds the Brooklyn Nets. After losing Harden, Kyrie Irving (31) and Kevin Durant (35) over the course of 12 months, the franchise have endured a total reset. Could it benefit them? Only time will tell.
Fans of the Nets will certainly be hoping that Ben Simmons (27) can get back to his best, which would be a massive boost.
Quin Snyder (56) will have his first full season as coach of the Atlanta Hawks after being appointed back in February. He undoubtedly has a strong attacking outfit on his hands, led by sharpshooter Trae Young (25). Whether he can get them strong defensively is another matter.
The Indiana Pacers will be targeting a place in the playoffs this season, with what is their strongest roster in many a year. All-Star Tyrese Haliburton (23) just keeps getting better and better, and following some really good trade deals, they are looking well poised.
The Toronto Raptors, Chicago Bulls and Charlotte Hornets could all be battling it out for a spot in the play-in tournament, while the Washington Wizards are significantly weakened after losing Bradley Beal (30) and Kristaps Porzingis (28), which could hamper their chances.
A youthful Orlando Magic team are unlikely to make much of an impact, while the Detroit Pistons, who won just 17 games last season, are still going through a rebuilding phase.