This was a very encouraging game to me. Oden played well, was productive in limited minutes and the Blazers took a top team to the end on the road...and didn't even play their best game. Based on this game, Portland is as good as anyone other than the Lakers. Of course, I think the Blazers will have pretty high variance, so they could easily lose to a bad team. In the end, I think they could compete for a 5/6 seed.
But really, the emerging cheer of this early stretch, beyond the quite strong record, is the emergence of Rudy and Batum and the development of Oden. If those three players develop as hoped, Portland will be fearsome.