Colon - he shouldnt be in this group - he's still a probably the best #3 SP out there - his first half last yr was abismal, but his 2nd half was his true form.
Penny, Sabathia, and Carpenter rd out the next tier from your group. All have pretty nice upsides and shouldnt hurt you in risk too much.
I really like Pineiro this yr - I would target him and probably include him in the 2nd tier from with Penny.
There are a lot of guys on that list that I like, but consider a step below the ones i already mentioned. This includes Davis, Garcia (hate the park effect or he would be in top group), Contreras (another CHW but his ceiling is real high), KBrown (personally, I think Brown will have a monster yr, but well see), Benson, Odalis Perez (great late rd SP choice), Nate Robertson, Wade Miller (obviously health a concern, and from latest reports you better temper expectations).
The guys on that list that I wont draft -
Pettitte - still one of the most overrated SPs in fantasy - he will hurt your team before he helps it.
Rodrigo Lopez - too many better alternatives
Lilly - why?
Kazmir - still a yr away from being a significant fantasy contributer - he wont help you in '05.
Lackey - dont trust him yet - still too streaky.
Padilla - same thing - too streaky for me.