I think the Irish are in a great place. Well rested, organised, great set of forwards - including bench options, defensively ferocious. That can take you a very long way. I like the backs a lot too - would take Kearney in a heartbeat - but the pack's the real heartbeat of the side.
As for the ABs. They're still a very very good team, but a bit of their aura has undoubtedly gone. Get in amongst them, get physical, disrupt and you're in with a chance. This is partly cyclical. No team has a divine right to win forever and I'm not really seeing players of the calibre of McCaw, Kaino, Carter (Barrett's good, but he's not that class), Conrad Smith etc in the current set up. Add in that Read, Franks and Whitelock have a lot of international rugby in their legs and there are reasons for other teams to be a lot more optimistic than they were even a few months back. But they'll be there or thereabouts.