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For a 12 team dynasty league, you could be in worse shape IMO. I don't think you are a top team by any means in 2012, but you definitely have some good pieces to work with for the future.
Hitters- Morse 1B, Tulo SS, and Kinsler 2B are all solid in a 12 team league. Then you have some good upside guys in Kipnis, Freese, Alvarez, and Chris Young. A bounce-back year from Choo would be nice as well. Overall, pretty solid. Nice pieces at key positions (2B/SS) and a lot of guys who could improve and become relevant.
Pitchers- The starters are by no means great for 2012. However, you have Price, Strasburg, and Hellickson. The first two are #1 top of the line starters, especially when you consider their ages. Hellickson has good potential too. The rest of your guys aren't too impressive, though I'll admit Luebke has some potential to be a decent #2 grade SP if he pans out.
Relievers- Solid, but with such high turnover in this department, I would be looking to deal some of them for hitting upgrades or SP upgrades.
To sum things up, you don't look to be very competitive in 2012. Maybe the middle of the pack, but not a lock for the playoffs. You do have an above average amount of upside going forward, so I think your team continues to improve each year. Just make sure you make some deals (especially those closers) for a few upgrades. Pay very close attention to the waiver wire and try to do your best at the trade deadline for upcoming stars.