Giants are overrated at No. 1

Eli Manning and the Giants are the champs, but should they be No. 1 on the Power Rankings? Matthew Emmons/US Presswire

In Indianapolis last month, Giants general manager Jerry Reese was telling us the hows and whys of Victor Cruz -- how the Giants saw something where others didn't; why they knew he might fit the system. Well, sort of.

"We missed it too. We were just like everybody else -- just a local free agent," Reese said. He explained, "If he wasn't a local free agent, obviously we wouldn't have brought him in. You get lucky like that sometimes." Reese's admission underscores how much good fortune plays into winning in this league. And while there's no reason to believe Cruz won't continue to be a dynamic NFL player, New York will need to find more of them to remain the league's top team. That's because over the course of the 2011 season, the Giants could have rarely been mistaken as such.

Remember, their playoff odds were under 50 percent headed into Week 16. Their incredible playoff run is certainly factored into this exercise because it's a reflection of what the team is capable of, but here we consider every aspect, and look to explain not who would win one game, but more likely, "If the Giants and the Packers played 10 games, who wins more of them?"

We've taken the average of a number of Vegas odds postings, and relied on the crew at numberFire for updated win total projections. Here is where things stand based on the Power Rankings out today.