Yes this is a few days late. But here goes. The best overall team is the HOUSTON ROCKETS. Notwithstanding that fact, the best bet to win the championship is the MIAMI HEAT.
My reasoning is this. In a HEAT-ROCKETS, HEAT-SPURS, or even HEAT-GRIZZLIES finals I would favor the Western Conference contender. But precisely because there are three elite teams in the West plus very good squads from Oklahoma City, Los Angeles, and Dallas the odds of any given team winning the Western Conference Championship are relatively low. By contrast the NETS, BULLS, and PACERS are all overrated in an extremely weak Eastern Conference. The odds of Miami making it to the Finals are overwhelmingly strong, which from an ex ante viewpoint more than compensates for the fact that (barring an amazing Greg Oden comeback) they’ll likely be finals underdogs.