I think you have some big names, and it gets extremely shallow from there. Your bench is extremely weak.
Starting pitching looks great, Oswalt/Halladay/Sheets/Zito is awesome, Patterson may end up being awesome, but maybe not. Might want to try to land another Reliever instead of Fuentes though, he plays for a pretty bad team and just won't get the same number of save opportunities as other closers. Look for Chris Ray, he'll probably end up with a ton of saves.
It's a decent team. I'd be a little worried about your power numbers though. Ordonez and Beltre are by no means reliable. You'll get a combined 60 home runs and 220 RBI out of Abreu and Delgado, but besides that will be, barring an Ordonez and Beltre recovery, your only major power contributors.
Speed and batting average should be good though. And you'll lead your league every week in runs. Your starting pitching is rock-solid. Your only weakness on the pitching side is probably putting your faith in Fuentes. I'd try to package him and Zito for a good reliever.
The pitching is amazing as stated in earlier posts. I disagree that you need to upgrade Fuentes, you have other fish to fry...like obtaining another bat. If you cant get a guy to give you a big bat (like Blalock, or someone with upside in 06) for Beltre/S.Casey or something of that nature, then wait to see who start 06 really hot. After a week or two of a really hot start, move the guy for a long term season upgrade. Youll definitely need more hitting to come in top 3 in a 12 team league.
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Your pitching is damn good. I'm not a big fan or Maggilio, Beltre, or winn. Your bench is also pretty weak, you will be in trouble if you get struck by the injury bug. There are probably better options out there on the wavier wire.