I'm in the same boat as Lax. I'm beyond thrilled that football season is finally here, but my expectations for this team have been significantly lessened. Same thing happened last year when Golson was suspended; it wasn't exactly a bold prediction to say we wouldn't be in BCS contention. Same thing applies this season, IMO. Losing Russell is huge, and Daniels and Williams won't be easy to replace.
The offense should be good. The defense could be anywhere from above average to awful. I have no idea what to expect from them. There's just so many unknowns on this team, and the schedule is brutal. Nine wins would be an accomplishment, IMO.
That said, I'll still be watching the Irish (along with Virginia Tech) nearly every Saturday, because I love football. Because my expectations aren't terribly high though, I'm not as pumped as I usually am around this time a year.