Lots of teams can be dismissed from contention straight away, which is not to say they won't be enteraining (I loved Ghana's run to the quarter-finals last time round, even though they were never going to win it).
The rest of them I shall organise into categories.
UNDERDOGS WHO CAN MAKE A GOOD RUN:
Chile, Colombia, Ivory Coast, Bosnia. At least 2 of them will make the quarters, one might make the semis.
Netherlands and Mexico are going through very poor phases right now. Round of 16 at best.
THEREABOUTS BUT NOT WINNING IT:
Belgium - talented, but inexperience will tell. Try again in 2018.
France - will get out of a weak group but won't get much further.
Italy, England, Uruguay - one of them ain't getting out of the group, and all three seem like "almost" teams to me at best.
Spain - Number one in the world, but their golden generation is getting old. Will do well but not that well.
Portugal - good overall squad but I can't believe they still don't have a decent striker. This means that opponents can focus on stopping Ronaldo, who will have to play like Hercules to drag them to the finish line. A possibility.
Germany - An amazing squad but lacking in a top-class proper centre forward due to the injury to Mario Gomez. Top-notch coaching will be required to get everything to click enough to overcome that.
Brazil - Don't look a patch on the Selecao squads of old, they lack a true superstar, and will need to make the most of their home country advantage. I don't see it happening.
Argentina - Outrageously gifted group of attacking players means that they don't need Messi to do it all. They are used to playing in South America. Their defence is a slight concern, as well as how to get the right balance in a squad that is stacked with riches going forward. But I think they can do it.