2 teams left, both in the AL:
AL North:
http://whatifsports.com/HBD/Pages/Popups/FranchiseProfile.aspx?fid=4805
Won back to back WS titles just a few seasons ago, but is in need of a rebuild. Comes with the #3 pick, no huge salaries on the book, and the top 4 salaries all expire at the end of this season, so they should be easily tradable to clear cash for this season or wait until next season. Not a ton in the pipeline, but last seasons #8 overall pick (a pitcher) looks like he has solid potential. If you're looking for a rebuild this one appears to be pretty "clean" in that you don't have to sort thru several years of large contracts on players far below the value of their contract.
AL South:
http://whatifsports.com/HBD/Pages/Popups/FranchiseProfile.aspx?fid=4807
This is a franchise with no history. Finished 2nd in the first season of this world (but no playoffs) and hasn't finished above 3rd place since having missed the playoffs all 22 seasons prior. No high salaries, the largest is a player that is fairly decent and expires in 2 seasons, should be tradable, the 2nd expires at the end of this season and is probably tradable to the right team (gold glove type at 3rd base, decent contact, power and eye, poor splits, so it would have to be a team that doesn't mind lower splits in their hitter) some decent pieces in the minors, but no future studs, #6 overall pick in the upcoming draft. Like the other gig, its fairly clean and the rebuild (or I guess in this case the build since its never been much of anything) can begin immediately.
As far as the world, its a good world, that has seen its ups and downs. Back on the upswing now with a good amount of owners that have been around for a significant time frame. Its generally been one of the more trade friendly worlds I've been involved in; pretty active world chat and occasionally a solid blog.