Are Chelsea going to win the Premier League season? I don't know, but we're as close as we've been at this point in the season since... well, we last won the Premier League. But despite the fact that we're most definitely in the race, we probably shouldn't be.
Manchester City possess the best, most balanced squad in the Premier League. They've been major players for the last two seasons, were champions in 2011/12, and their summer signings were geared towards winning immediately. And they've paid off -- Fernandinho and Alvaro Negredo have given them a major boost (albeit probably a relatively short-term one). Meanwhile, Manchester United, the only team capable of keeping up with City over the past two years, are nowhere to be seen.
Realistically, it's a little bit strange that there's still even a title race. There's a reason that Jose Mourinho's been talking City up all season; they're almost certainly the best squad in the league. And now he's claiming that should Chelsea win it all this year, it'll be his greatest accomplishment:
Manchester City, in terms of the power of their squad, are in another dimension. It would be my greatest achievement if we beat them to the title this year.
I think that's probably overstating things; the man's won the European Cup with both Porto and Inter Milan, which is riduclous. But the sentiment holds. City are the team in the best position to win the title. Chelsea and Arsenal are muddling along trying to build something grand. City already have it. And yet here we are.