We’ve reached the midseason point, and there is so much to be thankful for, including surprising teams (Tampa Bay Rays), surprising players (Reds’ Edinson Volquez) and one hell of a comeback story (Josh Hamilton).

Taking a look at the standings, it’s not surprising to see the Red Sox atop the AL East again. But it is surprising that it’s the Rays (and not the Yankees) that are hot on their heels.

Staying in the AL, the Angels will likely run away with the West, but now that Detroit has found a groove, the Central appears to have a three-team race for first between the White Sox, Twins and Tigers.

The Cubs are arguably the best and most balanced team in the National League, if not in all of baseball. But can they hold off the Cardinals and Brewers in the their own division? Milwaukee’s acquisition of C.C. Sabathia is going to make things tougher on the Cubs in the second half, although Chicago answered the Brewers’ with a move of their own, acquiring former A’s ace Rich Harden.

In the NL East, the Phillies looked to be running away with things until the Mets went on a hot streak, winning nine straight to get within a half game of first place. And the Marlins are far from out of it, sitting just 1.5 games back of Philly.

While the other two NL divisions are exciting, the West is a disaster. No team is above .500, and attrition has given the Diamondbacks a begrudging one-game lead over the Dodgers. Even the Giants are still in the hunt at seven games back, despite being 15 games under .500.

Since this is the midway point, it’s a good time to take a look back at the first half, while also taking a peek into the future. Below is a top five buffet, complete with a top- and bottom-five power ranking, a list of five players that could be dealt by the trade deadline, as well as five team and player predictions for the second half.

With how tight everything is in MLB, we should be in for a wild second half. Enjoy!

Top Five:

1. Chicago Cubs (57-38)
The acquisition of Rich Harden (via trade with Oakland) now gives the Cubs that quality No. 2 starter they’ve been searching for. Assuming Harden and Carlos Zambrano both stay healthy, Chicago has a solid 1-2 punch at the top of their rotation, while Ryan Dempster (10-1 at Wrigley this season) is a fine No. 3. Aside from their big hitters Derrek Lee, Alfonso Soriano (when healthy) and Aramis Ramirez, the Cubs are also getting quality production from lesser-known players Mark DeRosa, Ryan Theriot and Mike Fontenot, not too mention rookie of the year candidate Geovany Soto. This might be the most balanced club in the NL.

2. Los Angeles Angels (57-38)
The Angels weathered the storm of being without ace John Lackey in the beginning of the season and are now rolling along. Lackey has been phenomenal since coming off the DL in mid-May, compiling a 6-2 record and 2.46 ERA. The Halos also have three pitchers (Joe Saunders, Ervin Santana and Jered Weaver) in the top 20 in ERA in the AL, and Vladimir Guerrero’s average has risen by more than 30 points since the start of June. With the A’s trading Rich Harden to the Cubs, the Angels should cruise to another AL West division title and start setting their sites on the postseason.

3. Boston Red Sox (57-40)
The BoSox have done a tremendous job without David Ortiz in the lineup, particularly J.D. Drew, who has stepped up his game dramatically since Big Papi went on the DL with a wrist injury. Ortiz should be ready to roll again sometime after the All-Star break and therefore Boston’s lineup will be complete again. (Assuming he recovers quickly.) It also helps that the Rays have crashed back to earth and have lost a ton of momentum in the AL East by losing seven straight. The Red Sox have the better lineup, starting rotation and more experience, so they shouldn’t have any problems with the Rays in the second half as long as they can improve on their paltry road record. (They’re 21-29 away from Fenway this season.)

4. Tampa Bay Rays (55-39)
They’ve lost seven in a row, but losing streaks happen in baseball. It doesn’t take away from the fact that the Rays were the best team in baseball throughout most of the first half. Maybe the All-Star Break came at the right time and the Rays can get back on track. They have the best young lineup in all of baseball and finally have decent pitching to go along with it. The Red Sox and Yankees always raise their games in the second half, but once they get their offense back on track, Tampa should remain right in the thick of things.

5. Chicago White Sox (54-40)
One of the more surprising teams in baseball this year has been the Sox, who lead the majors in home runs by a wide margin. How big has Carlos Quentin been this season? He leads the club in home runs (22), RBI (70) and runs scored (62). The Chi Sox have also been dominant at home, jumping out to a 32-13 mark in the first half of the season. They’re going to need closer Bobby Jenks to be healthy in the second half, however, because the Twins are breathing down their necks in the AL Central.

Bottom Five:

26. Cleveland Indians (41-53)
What a sad year in Cleveland. Just one year removed from knocking on the door of a World Series appearance, the Tribe has been bitten hard by the injury bug and was essentially forced to trade ace C.C. Sabathia so they could start to rebuild. (They also had to deal him because there was no guarantee that they could re-sign him in the offseason.) The good news is that the Indians landed one of the top minor league hitting prospects in Matt LaPorta and once healthy again, have an ace to replace Sabathia in Fausto Carmona. It’ll be interesting to see if Cleveland will continue to purge their roster as the trade deadline nears. Will Casey Blake be dealt?

27. Colorado Rockies (39-57)
A fall from grace was probably imminent in Colorado, but who would have thought the Rocks would fall this far after their World Series appearance last year? One would have thought that they’d at least be competitive all season, especially in the weak NL West. But while the offense hasn’t been that bad (Matt Holliday is hitting .381 with six dingers and 25 RBIs since coming off the DL), the pitching has been brutal. The Rockies own the second-worst team ERA in the NL with a 4.93 mark. Thank the baseball gods for Aaron Cook (11-6, 3.57 ERA).

28. San Diego Padres (37-58)
The Pads have already waived the white flag in 2008 and are starting to play their youngsters, which is smart. There’s no secret what’s going on in San Diego – outside of Adrian Gonzalez, this is the worst lineup in baseball. It’s sad when Jake Peavy owns a 2.47 ERA, but is only 7-5. That’s what happens when you get zero run support.

29. Seattle Mariners (37-58)
This club has endured a lot over the first half of the season. They fired their manager and their GM, and just recently they released one of their former stars (I use the term “stars” lightly), Richie Sexson. The M’s are dead last in runs scored in the AL and have the second-worst home record in all of baseball. 2009 can’t come fast enough.

30. Washington Nationals (36-60)
The Nats have been blindsided by injuries to some of their young stars. Eljah Dukes was hitting .400 in July before heading to the DL with a knee injury and now Wily Mo Pena is having shoulder problems. The club is just 2-8 in their last 10 games and with mounting injuries, things will probably get worse before they get better in Washington.

Five players that could be dealt by the trade deadline:

1. Mark Teixeira, 1B, Atlanta Braves
Amazing to think that the Braves would trade Teixeira just one year after giving up top prospect Jarrod Saltalamacchia to acquire him from Texas, but it’s a major possibility. Rumor has it that Atlanta offered Teixeria for Kevin Youkilis and Craig Hansen, but the Red Sox declined. Apparently the Braves want a power-hitting outfielder and would also seek a first basemen for Teixeria.

2. A.J. Burnett, SP, Toronto Blue Jays
The Jays started Burnett on just three days of rest before the All-Star break in an attempt to maximize his trade value before the deadline. Burnett has a no-trade clause in his contract, but he reportedly has a list of 15 teams that he would approve a trade too. One of those teams is the Phillies, who have shown minimal interest in Burnett to this point, but they could strike a deal if the Mets stay hot on their tails in the NL East.

3. Brian Fuentes, CP, Colorado Rockies
It’s not a question of will Fuentes get traded, but when will it happen and to whom? Nine teams are reportedly interested in the Rockies’ closer, including the Marlins, Angels, Red Sox, Phillies, Yankees, Mets, A’s, Cubs, Rays and Cardinals. The Rays are considered the frontrunners at this point.

4. Greg Maddux, SP, San Diego Padres
Maddux has a full no-trade clause in his contract, but he said he would approve a trade to either the Dodgers or Braves. But the Dodgers are in the Padres’ division (making a deal unlikely) and the Braves might be sellers at the deadline themselves, so they seemingly would have no use for a 42-year old pitcher (unless a bad case of nostalgia sets in). It’ll be interesting to see if Maddux approves a trade to a NL contender like the Mets or Phillies.

5. Adam Dunn, OF, Cincinnati Reds
Not surprisingly, there doesn’t seem to be a lot of interest in Dunn, especially with his average hovering around .230. But teams in contention always need a player with power, which Dunn has plenty of (26 dingers in the first half). Rumor has it that the Reds are fearful Dunn will accept arbitration if the club offers it after the season, so they might be willing to take less to move the outfielder. The market should heat up for the 28 year old as the trade deadline nears.

Five team predictions for the second half:

1. The Red Sox will win the East, but the Rays will make their franchise’s first postseason appearance as the AL Wild Card. And yes, that means the Yankees miss the playoffs.

2. The Cubs are everybody’s loveable losers no more – they will make a World Series appearance this season.

3. The Dodgers, not the Diamondbacks will win the NL West.

4. It will be the Tigers (not the Twins) who battle the White Sox in the AL Central down the stretch.

5. The Brewers will hold off the Cardinals and Mets to win the NL Wild Card.

Five player predictions for the second half:

1. The AL MVP will come from the Texas Rangers, whether it’s outfielder Josh Hamilton or second basemen Ian Kinsler.

2. Marlins’ shortstop Hanley Ramirez will edge Braves’ third basemen Chipper Jones for the NL MVP.

3. Jays’ starter Roy Halladay will win the AL Cy Young, but he’ll face stiff competition from Yankee closer Mariano Rivera.

4. Brewers’ ace Ben Sheets will overcome this year’s surprising young stud Edinson Volquez (Reds) and future Cy Young winner Tim Lincecum (Giants) to win the 2008 NL Cy Young.

5. Phillies’ first basemen Ryan Howard won’t relinquish his lead in the second half and will be the 2008 home run champ.