3rd is a little optimistic.
We can, and I feel we will return to the 5th spot that we didn't achieve last season because of all the off the field issues and poor form of the back 4.
If we get a decent keeper in (McGregor from Rangers is the most likely) or if Robbo finds his form we will be ok.
King and Woodgate are capable of being a superb centre back pairing, however, it is common knowledge King won't be able to play more than 1 game a week, thats why Ramos is actively seeking another decent centreback (and by that I don't mean Jar Jar Binks from the Spammers).
The comment on Bale being unfit is laughable. He was ever present for us until his foot injury and then was out for the season. Nothing there to suggest he is constantly unfit (look at Van Persie, Saha and the majority of the Spammers for an explanation of the term constantly unfit).
Attacking wise we don't have a problem, and with Berbatov looking more and more likely to stay we should continue to score goals easily (stats from the past 3 seasons support this). The only problem stopping us from hitting the top 4 is our defensive game, if the back 5 and holding midfielder player to form, then its a possibility.
However, this season, I would take 5th and the UEFA Cup.
As for other sides. United will be there and there abouts as always, even if Ronaldo goes, they will replace him with class. Chelski, no-one knows. They have the players to challenge, but with Roman "Ego-Trip" Abramovich struggling to find a manager I cannot see it being very harmonious at the Bridge.
As for Liverpool, this will depend on what type of start they have, will they under achieve as usual, will Torres be as good as he was this season? Arsenal, again, who knows. They haven't looked like replacing Flamini yet (Nasri maybe, yet unproven in the league, and likely to be holding out for a move to Barca/Real after the Euro's) and with rumours if Pleb and Adebuyawhore leaving, what will happen to them is anyones guess.
The rest, Everton will be there as usual, Villa I don't know, depends how they replace Barry and Mellberg, and who they get in as keeper. Man City, again, another powertrip chairman, and the majority of their success was down to Sven, they also have a few players who may leave because he has gone. Sparky is a good manager, but will take time for his system to become effective.
All I know is that next season will be entertaining.