Wimbledon has always been the least predictable Grand Slam since about 2007/2008. Seedings will play a big part in this, particularly if Nadal was to not win the French Open and so slip to No. 5.
If Murray has completely recovered from his injury, I would put him as favourite very slightly over the rest of the field. With the right mindset, a first Wimbledon Crown should be well within his grasp.
I have a feeling Federer is being written off here, and he is determined to show up exclusively for the Slams. With a relatively favourable draw, I would not be surprised at all if he ran through into the final, or successfully defended the title. There was a time when he was absolutely unbeatable on grass (Wimbledon 2006 was GOD mode), and he's got a lot of magic left, so I can only see him being taken out by Nadal (who he has still beaten here) or a big hitter.
Nadal is also a key contender and would be a dangerous floater as 5th seed. A potential finalist (or semi-finalist), maybe even a winner if he gets Ferrer in his quarter and Andy/Roger in the semi
Djokovic, although he's the World No. 1, has the tendency to struggle with his movement on the grass, particularly against those who are able to make good use of the slice - I'm not convinced that he'll win the title, but he can make the semis.
The outsiders: Berdych/Tsonga/Del Potro - these 3 are basically the big hitters in the draw. A long shot for the title, but they can remove Federer/Djokovic from the draw and dramatically reduce the threat to the rest of the top guys.