1. Michigan State
2. Michigan
3. Ohio State
4. Indiana
5. Iowa
6. Purdue
7. Wisconsin
8. Illinois
9. Minnesota
10. Penn State
11. Northwestern
12. Nebraska
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I said after the BIG tournament that I wouldn't be posting here anymore until next season as there was really nothing to discuss.  There still isn't.  I've received I don't know how many private messages from Hawkeye fans on my account asking me to come back and say something so I figure I'd reply with some response just to free up my inbox.
This list is laughable (laughable even taking the Wisconsin ranking out of the equation).  I'd peg Iowa right into the 3-5 range of next seasons predictions.  I'd say that's about right with a commensurate NCAA tournament berth in 4-7 seed range.  Michigan State will be the odds on favorite and rightfully so.  Izzo is a proven coach and winner and if anyone doesn't think he can make up for the loss of Nix with improvements to returning players and/or high ranked recruits then that person is delusional.
The Wisconsin ranking is also absurd and I'm sure relates in some way to your lack of history of the league outside of anything that happened outside of the years 1982-1993.  Judging by your avatar you are still stuck in the Hayden Fry/Raveling/Tom Davis years.  Steve Yoder doesn't coach Wisconsin anymore and Don Morton doesn't coach the football team.  Oh and there's new technology called cell phones and the inter-web.  Welcome to 2013.
 
 Wisconsin has NEVER finished outside of the Top 4 in the league and if it didn't happen this past year after losing Jordan Taylor, losing Josh Gasser to injury a week before the season and having our most fouled post man reduced to shooting jump shots from the Free Throw line (Ryan Evans), then it's never going to happen under Bo's watch.  So Wisconsin loses Jared Berggren, Mike Bruesewitz and Ryan Evans, so what?  Good defenders but mediocre offensive players at best, particularly Evans and Bruesewitz.  Bo Ryan has had to replace much much better players than those guys before.  Wisconsin also returns their starting point guard (Gasser) who also happens to be the best defender Bo Ryan has ever had.  But the biggest reason (outside of Bo Ryan) that Wisconsin will contend for a title next year is this:  Sam Dekker.  Everyone that follows Wisconsin knows that Dekker is about to absolutely bust out.  Outside of Dekker, Wisconsin brings in their best recruit since, well, Sam Dekker.  That is Bronson Koenig.  Duke and North Carolina offered him and Coach K and Roy Williams came up to see him at least 10 times between the two.  The only reason he isn't ranked higher is because he commited early and broke his hand his junior year and didn't play HS or much of the AAU season.  There are also reports that Diamond Stone (the #2 ranked recruit in 2015) is on the verge of picking Wisconsin.  The future is bright.
On non-Wisconsin related evaluations I'd say that some of the bottom feeders will soon be getting some payback.  Purdue is going to have Top 3 talent going forward.  Northwestern returns guys off of injuries that will be major factors in them possibly vying for a tournament bid, they'll bite quite a few teams.  Penn State returns Frazier and Chambers knows what he is doing, look at how they played down the stretch on a very depleted and young team.   I doubt any of those three teams are going to challenge for a title but they'll get many more wins that this season.
So much is in flux that it's really impossible to create a solid list because of how much depends on early entrants.  On first look I'd say that the BIG takes a step back from what it was this season.  Most of that is due to Indiana probably taking a big step back and while Michigan has good talent coming back, Trey Burke is just sooo good that you wonder what losing him will do to Michigan.  The top won't be as good but the bottom 4 should be MUCH better.  NW, PSU, Neb and Purdue should all be better than this years version.  Minnesota? Your guess is as good as mine.