Definitely not the dark horses... we haven't the steal to pull off wins as second favourites. Not more than the odd one or two games at least.
The last few years I've rated us quite highly in Europe. In comparison, the only other teams that I've had as clear favourites over us are Barcelona (obviously), Chelski and ManUre (because we'd 100% bottle it!!!) and possibly Inter (because under Mourinho they would have beaten us... that's what Mourinho teams do!)... It's definitely different this time around though, we're clearly out of that top seed group. AC, Real Madrid, Citeh and Buyern are the obvious ones, but there's a whole host of teams that are "nearly men" in their leagues, and that's about the level that we're at right now.
Anway, a cup is a cup, it's knock-out after the groups and any team can beat any team... so there's always a chance! Blah blah blah