I like the Bobcats, but I'm not going to lie to myself. Point blank, they're just not good enough. Not good enough to make the playoffs, much less contend for a championship. Think about it, how silly does that sound? Charlotte Bobcats - 2007 NBA Champions!
The Bobcats are like the new kid on the block, and there will be growing pains. Eventually, they'll find the playoffs, and with a little luck, perhaps even do some damage when they get there. That's also not happening anytime soon. Their future looks bright (Morrison is a great addition), but they're still missing some key players to really do something special.
A more accurate assumption would be the Bobcats making the playoffs in 3 - 5 seasons.