In order to gauge how far the NFC South has fallen as a division recently, all bettors have to do is take a look at the season win totals for all four teams in 2008.

New Orleans has the highest tally at 8 ½ ‘over’ (minus 155), followed by Tampa Bay at eight ‘under’ (-125). Carolina has a win total of 7 ½ ‘over’ (-140), while Atlanta has the NFL’s lowest number at 4 ½ ‘over’ (-160).

Those are 30-cent lines at Sportsbook.com, meaning you could earn a plus 130 return by backing the ‘under’ for the Falcons (risk $100 to win $130 if Atlanta wins four games or less).

The Saints came back to earth last season after coming just one win shy of the Super Bowl in their unforgettable 2006 campaign that came on the heels of Hurricane Katrina. They lost their first four games in 2008 and Deuce McAllister went down with a season-ending ACL tear in Week 3.

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Nevertheless, the ‘Who-Dats’ fought their way back into the playoff picture with four consecutive wins, but they lost to the Eagles and Bears in the final two weeks to fall short of a post-season berth. In doing so, New Orleans became the fifth straight defending NFC South champ to have a losing record the following year.

In 2006, Sean Payton’s offense was the NFL’s best thanks to Drew Brees. That unit fell to fourth in ’07, but the difference between the two teams was defense. The ’06 ‘D’ left a lot to be desired, but it did come up with timely plays. In ’07, the Saints ranked 30th in pass defense, giving up 32 touchdown passes.

The off-season goal was to improve on that side of the ball, as evidenced by the acquisition of former Jets linebacker Jonathan Vilma, who was the 2004 NFL Defensive Rookie of the Year but is coming off a knee injury.

New Orleans also signed DE Bobby McCray from the Jags and picked up USC’s Sedrick Ellis with the No. 7 pick in the draft. In addition, the team added depth to the secondary by inking veteran CBs Aaron Glenn and Randall Gay.

DE Will Smith is one of the league’s best pass rushers, producing 33 ½ sacks over the last four seasons. As for his DE counterpart Charles Grant, his status is up in the air due to a pending involuntary manslaughter charge in Blakely, GA.

Offensively, there’s no reason to think Sean Payton’s unit won’t continue to churn along, assuming Brees stays healthy. There is the question of whether or not McAllister can return from his second torn ACL in three years, not to mention Reggie Bush’s lack of production running between the tackles.

But even with Bush out for the last four games in 2007, the Saints produced scoring outputs of 34, 31, 23 and 25. In other words, Brees has proven that he can still guide the team’s high-percentage passing game even without an effective running game.

And that’s the main reason why New Orleans is the 10/11 ‘chalk’ to win the NFC South at Sportsbook.com. The Saints have 20/1 odds to win the Super Bowl.

Outlook: I like the Saints to go either 9-7 or 10-6 and win the NFC South. With that said, the minus 155 price for betting ‘over’ 8 ½ wins isn’t particularly attractive, nor is the less-than-generous 10/11 number to capture the loop.

Tampa Bay was the surprising division champ last year, but we know that doesn’t translate into success for the upcoming campaign. The Buccaneers have 9/4 odds to win the loop, 40/1 odds to hoist the Lombardi Trophy.

Jon Gruden’s team won the Super Bowl in his first season in Tampa, but the Bucs have lost home playoff games in their last two trips to the playoffs. They dropped a 24-14 decision to the Giants last year.

Jeff Garcia was the catalyst in 2007, leading an offense that lost RB Carnell “Cadillac” Williams to a season-ending injury in Week 4. The Bucs are hoping Williams can make a successful return, but they signed Warrick Dunn as insurance.

The WR corps is an aging bunch with Joey Galloway and Ike Hilliard returning as the starters. Michael Clayton is coming off another inconsistent season, so the team is hoping Dexter Jackson – a second-round pick out of Appalachian State – can emerge as a big-play threat.

The defense has to replace CB Brian Kelly and DE Greg Spires, but the unit has a couple of emerging stars in DEs Gaines Adams and Greg White. LB Derrick Brooks and CB Ronde Barber are still around and still producing, although Brooks does leave the field in passing situations now.

Outlook: I have the Bucs going 7-9.

Carolina is the most unpredictable team in the NFC South, mainly because of the question mark that is QB Jake Delhomme. He is attempting to come back from Tommy John surgery on his throwing elbow. If Delhomme can’t return to form, the Panthers are in big trouble because back-ups Brett Basanez and Matt Moore are incapable of leading this team to the playoffs.

Speaking of a playoff berth, that’s probably the only way John Fox will be able to save his job. Remember, Bill Cowher has settled down in Raleigh since leaving the Steelers and all indications are that he wants to return to coaching after two years of recharging his batteries.

As important as Delhomme is to the offense, DE Julius Peppers is equally as critical to the defense. Peppers has been one of the NFL’s most dominating defensive players this decade, but he was awful in 2007 with just 2 ½ sacks.

Outlook: I think the Panthers go 6-10, but that could swing by as much as two games depending on the health of Delhomme. I think a wager on ‘under’ 7 ½ wins for a plus 110 return is worth consideration. It’ll be an easy winner if Delhomme starts less than half of Carolina’s games.

Atlanta has seen its franchise grounded for several years (minimum) due to the incarceration of Michael Vick. The rebuilding process has begun, but this thing is going to take a lot of time.

The housecleaning resulted in the release of veterans like TE Alge Crumpler, Dunn, DT Rod Coleman, OT Wayne Gandy and QB Byron Leftwich, while CB DeAngelo Hall was traded to Oakland.

Matt Ryan is the future at QB and you would think he’ll get thrown to the wolves from the outset. The offensive line is a mediocre group, but the Falcons have a pair of excellent young running backs in Michael Turner and Jerious Norwood.

If there was a bright spot in 2007, it was the emergence of WR Roddy White, who hauled in 83 receptions for 1,202 yards. The team is excited about the potential of WR Laurent Robinson and third-round selection Harry Douglas, while Michael Jenkins also remains in the mix.

The defense gave up 28 points or more in each of its last seven games last year. Translation: This unit is terrible.

LB Michael Boley is a rising star and Keith Brooking will probably have a better season in 2008 because he’ll move back to his natural position on the outside. The new middle linebacker is expected to be rookie Curtis Lofton, a second-round selection out of Oklahoma.

DE John Abraham is solid when healthy, but the d-line will need DT Jamaal Anderson to have a breakout year. Erik Coleman and Von Hutchins were acquired to beef up the secondary, but second-year man Chris Huston will be relied upon since Hall was dealt away.

Outlook: Only because the schedule is soft, I could see the Falcons possibly going 5-11, especially if Ryan shows solid improvement late in the year. There are winnable home games against Detroit, Kansas City, Carolina (if Delhomme’s out), Tampa Bay and St. Louis, and a win at Oakland isn’t completely out of the question. But I don’t see any reason to get involved in any sort of pre-season wager for the Falcons, as 4-12 is the likely ledger.