Despite their poor start in the competition, I think the hosts Argentina will take a hell of a lot of beating. Any side that contains the collective genius of Lionel Messi, Carlos Tevez, Sergio Aguero, Angel di Maria and the new star Ezequiel Lavezzi has to be in with a shout. And when you factor in home advantage, and their burning desire to put one over on their great rivals Brazil, I think the case for them becomes even stronger. Brazil will, of course, be a factor, along with Colombia and maybe Chile. But, yes, Argentina to give their home fans something to smile about.
Personally I think its between Argentina, Brazil and Uruguay!
I have a feeling that Uruguay might just win it this time year. They have a quality side, with players who are on form, such as Napoli Striker Cavani, Lazio keeper Muslera and Liverpool's Suarez.
Mexico might also give it a good go but i think they will fall short during the latter stages of the competition.
Had Spain accepted their invitation to take part in the competition I would probably have bet on them to lift the Copa America. Even though a European side lifting the Copa American seams extremely odd to me.