My first thought is that Malone's coaching is taking hold this year. The defensive principles that he taught last year are manifest on the floor. Also, Collison has been a very consistent point guard, Cousins has taken a fairly large step forward in maturation and leadership, McLemore is better defensively and offensively (though still at the bottom of the barrel of NBA starting 2 guards), Casspi is a nice reserve, and Landry is healthy. And speaking of health, the Kings have been fairly fortunate in the injury department so far this year, despite the tweaks of Gay, Collison and Cousins.
Is this team good enough to make the playoffs? Yes. Would it be incredibly surprising if it didn't make the playoffs? No. This team is on the cusp, in terms of its talent, depth, and experience. So where is the surprise on the upside? Could it be the trade of D-Will by the trade deadline for some offensive firepower? And the surprise on the downside? Injuries to either Cousins, Gay, or Collison. Other teams may be able to sustain if one of their big three gets injured. This team just can't.