Catcher: Hernandez is fairly weak to have for a 12 team league, as he is rated at best in the top 15 catchers. That being said, catchers are so inherently injury prone that I have never liked going for a Piazza or Kendall at that position. As long as they can hit around .260, with some power, that's fine.
First base: I would say this is your weakest position. Given the multitude of strong first baseman, I wouldn't accept less than .300 and 100 RBIs at that position.
Middle infield: You have an absolutely killer middle infield, with the top 2B and the second or third best shortstop available. This makes up to a great deal for weakness at catcher and first.
Third base: The stat projections I have seen pit Huff as a .300 hitter and 100 RBI man. I am not totally convinced of that, given his inexperience, but even if he only does .280 and 70 RBI, that should be excellent for a weak position.
Outfield: If Walker can stay healthy, he is good as gold, especially playing at Coors. Wilson is another solid, top 25 outfielder, with the Coors factor making him even more valuable. I am not so sold on Payton and I would be a little nervous about having all my outfielders on the same team in case the team goes into a slump or something, but otherwise you have a very servicable OF.
You have Pedro who is looking absolutely dominant so far and this should continue. Buerhle is another excellent #2 pitcher, a better bet than Colon on the Sox IMO. Schmidt is a perfect #3 pitcher, and pitching in such a pitching friendly park will help out even if he does struggle. Lilly and Hernandez are two sleepers that I think could go either way. Cone would make me very nervous and I think he will eventually break down either do to ineffectiveness or injury.
Your bullpen is a little shaky. Mantei is another guy that just makes me nervous as a closer and could be single handedly responsible for preventing RJ and Schilling from getting 20 wins. If Santana ever finds his way back into the rotation, you might have another killer sleeper.