Allow me to start with a book recommendation: Dave Hill is a comic/musician I like, also a hockey fan who wrote a silly but funny book about the sport:

Islanders were looking haggard early on; blowing multi-goal leads in the 3rd period, getting penalized on the power play, etc but seem to have found something with back to back OT wins over the Kings and Toronto (both good teams). The Islanders unlike recent vintage clubs don't defend all that well (apart from the goalies) but suddenly have a good power play, are relatively fast, and score a fair amount.
The Devils were supposed to be the best of the NY teams but they've gotten off to a slower start than the Isles. They have a lot of young talent including a potential MVP type in Hughes.
The Rangers are in 1st place in the division but I haven't seen them play much.