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That thud that hit the United Center on Sunday wasn’t the Blackhawks’ playoff chances–yet–but more likely a return to Earth from what might have been a bit of irrational exuberance.

Sunday’s 4-2 loss to the Phoenix Coyotes was the Hawks’ 42nd game of the season and the first of the second half in the 82-game campaign. It was also Denis Savard’s 21st game as head coach–the same number of games Trent Yawney coached this season before being fired Nov. 27.

Under Savard, the Hawks are 10-8-3. However, take away the hot start–when teams typically have a spike with a coaching change–and the Hawks are 7-7-1.

Considering that since 1995-96 the Hawks have been at or above .500 just once–Brian Sutter’s first season in 2001-02–a .500 season would certainly qualify as a step in the right direction. So, with one half down and 40 games to go, it’s time for a midseason report card and a look into the second-half crystal ball.

Management

The off-season trades for Martin Havlat and Michal Handzus has been Dale Tallon’s best move in his year-plus reign as general manager. Jeff Hamilton and Brian Boucher also have been good finds. He might have been a bit impatient in pulling the trigger on Yawney, but he could have been under pressure from above to do something. Were there deals that Tallon walked away from because he’s too reluctant to part with prospects? Perhaps, and as he grows in the position, Tallon shouldn’t become so attached to the players he drafts and should view them like he does his NHL roster–as assets that can be just as valuable in trades. Grade: C.

Coaching

After winning his first three games, Savard has found out that it takes more than just positive energy to succeed in the NHL. The power play was put in his hands at the start of the season. It has been awful, worse than last season’s 30th-ranked unit. Whether it’s the system or the players being used on it, the postseason is out of the question unless it makes a major improvement. Grade: C.

Forwards

Havlat has been better than anyone thought, but a sprained ankle and now a groin injury has limited his production. Other than Havlat, however, the forward group has been a mixed bag. Tuomo Ruutu has shown three-game flashes in which he has been brilliant but longer stretches when he’s not noticeable and is probably better suited as a second-line player. So the Hawks still have only two legit top-six forwards, which is why they continue to struggle to score. Martin Lapointe’s 10 goals have been a boost, as have the 11 goals from Hamilton. Grade: C.

Defensemen

The eight teams that would qualify for the playoffs in the West are averaging 91 points from their defensemen this season. The Hawks’ defensive unit has a total of 66. Only Edmonton (63) and St. Louis (47) have gotten fewer points from the back line in the West. The Hawks still don’t have a No. 1 unit that can play 25 to 30 minutes a night. James Wisniewski has been a bright spot, but the rest have been only so-so, with Adrian Aucoin (two goals, nine points) being a disappointment. Grade: C-.

Goaltenders

With the exception of perhaps a half-dozen games, the goaltending tandem of Nikolai Khabibulin and Boucher has given the team a chance every night. Except for the opener in Nashville, the Hawks haven’t picked up their goaltenders on their off nights as much as the other way around. Khabibulin has shaved nearly a full goal off his goals-against average last season and has been above .900 in save percentage almost the entire season. Grade: B.

Outlook

When Yawney was fired, the Hawks were 13th in the West, eight points out of the playoffs. Twenty-one games later, they are 12th in the West, six points out of the playoffs. Their longest winning streak has been three games, and their best extended stretch has been four wins in five games. It seems unlikely this current roster can put together a two-week stretch in which it wins five or six in a row, especially with Havlat’s status uncertain and the prospect of playing nine of its first 10 in February on the road.

A deal for more offense seems to be needed, but what do the Hawks have to trade? Jonathan Toews and Cam Barker appear to be untouchable, and the rest likely won’t bring back much help. Will Toews set aside the schoolbooks and join the Hawks for the last month of the season? If so, how much can be expected of him? Tallon and others have raved about him, but considering the Hawks’ past with draft picks, it might be best to follow Bill Parcells’ advice and put away the anointing oil for a while.

Barring a blockbuster trade, Havlat will need to produce like he did in his first 14 games, and Ruutu need to have the same second half he had his rookie season.

That, and Khabibulin continuing what he has done, will give the Hawks a chance–but only a chance.

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