It's hard to believe what a difference six months makes. Winter is a time for projection, for hope, a time where each prospect's cup is half-full. But thrown bats and extended slumps change everything, including the ranking of prospects.

As I have done in the past, I have once again compiled a ranking of the minors' best 75 prospects. While the name atop the list has not changed, it came with far less ease than in January. Below Delmon, everything remains in flux.

I have decided to make eligibility requirements subjective this season, opting to not include any player that should lose his prospect eligibility by season's end. Any player currently in the Majors was exempt, and many in the minors (read: Lastings Milledge) were taken off the list by my subjectivity. If, in fact, these players remain prospects for another season, you can expect they'll be back in another six months. And by then, I think we can agree, everything will be different all over again.

My thought process when ranking prospects works in tiers, and while I would normally reserve this day for a ranking of the top 25, I found it more educational to cut things off at the end of my first ranked tier of prospects. Enjoy...

1. Delmon Young, of: Devil Rays (AAA)

Following the Delmon Young press conference, I had decided Young would not be my top prospect at the midseason mark. It would be my way of not just indicting his bad showing of make-up, but his low walk and home run totals in AAA as well. Then I saw Young for the first time, the night of his first home run, and my mind was changed. The power is going to come, I promise. He's hitting .375 with seven extra-base hits and just 11 strikeouts in 19 games since returning. Minor league baseball has no better player.

2. Alex Gordon, 3b: Royals (AA)

Like I said, Young was not my first prospect three weeks ago, Gordon was. And if I had stayed with that decision, it would have been defensible. Gordon represents the best bet for success in the minor leagues; he has no discernible flaw. He's going to hit for average, a lot of power, draw plenty of walks, play steady defense, and steal enough bases to make his fantasy owners giddy. Suddenly his four figure baseball card is looking like a sound investment, no?

3. Howie Kendrick, 2b: Angels (AAA)
4. Brandon Wood, ss: Angels (AA)

Wood has done little for this order to be flip-flopped, continuing on a path to success after a ridiculous 2005. But this season it's Kendrick to take the full step forward, catapulting himself past Wood and into the top five.

Kendrick, I've said before, is a player with limited potential value. In other words, his ceiling has a roof. Confined by his own stature, there is a limit to the power Kendrick can develop in relation to Wood. However, Kendrick is nearly guaranteed to hit for a better average than Wood.

The ranking of these two players is a simple test of risk vs. reward. Kendrick offers no risk, but his reward is limited in comparison to Wood, whose ceiling is highest among current prospects.

5. Justin Upton, of: Diamondbacks (A-)

Watching Upton in person, the top overall pick from last year exudes an aura that doesn't usually follow teenagers. The aura was first evident in Spring Training, when Upton's build and bat were enough to hold his own in big league camp. He shined on the national stage, saving what some would call his best Cactus League game for a contest against the White Sox on WGN. Now far from the big stage, Upton is struggling a bit, but in seeing him, it's obvious there is more than the numbers tell us. Upton will come around, if not at the pace I thought, and when he does, sparks will fly.

6. Stephen Drew, ss: Diamondbacks (AAA)

If Drew began the season in the Arizona batting order, it would have surprised no one had he separated himself from the NL Rookie of the Year pack. Instead, the Diamondbacks chose the cautious route with their young shortstop, maintaining another year of mediocrity from the position for the betterment of their future. Good decision. Drew has progressed as expected in AAA, and he is on the right timetable to make a splash next season. A gifted offensive player, Drew has even more to show than what he has since signing in pro baseball.

7. Billy Butler, of: Royals (AA)

I have always believed in Butler's bat, and on Sunday, his performance in the Futures Game showed why this is a good idea. Butler is as good a hitter for his age as it gets, he's polished and powerful. His play in the field is a work in progress, but it's improving, even at a Carlos Lee-type rate. The most concerning blip on Butler's radar is a drastic home/road split that favors his time in Wichita. For all we know, it's nothing, but it's also worth keeping notice. Butler is going to hit in the Majors, and with Gordon, Dayton Moore's long-term vision is beginning to come in better focus.

8. Cameron Maybin, of: Tigers (A-)

There have been a lot of positives about Cameron Maybin's season, his full season debut. Any teenager holding his own in such a difficult league is worthy of praise. Maybin has also been lucky, striking out at a percentage too high to keep his batting line as high as it is. a true five-tool player, the North Carolina outfielder is far more raw than he has shown this season. But underneath it all, the Tigers - who landed the top rated player in the 2006 draft - may have landed the top player in 2005.

9. Phil Hughes, sp: Yankees (AA)
10. Homer Bailey, sp: Reds (AA)

Bailey was not an oversight in my listing of the top pitching prospects weeks ago, I told someone after that article that Bailey wouldn't rank high for me until he showed "consistent dominance." So, upon promotion, Bailey decided to go off, and currently has a 17 inning scoreless streak going at Double-A. He has earned his status as the game's 1A pitching prospect, especially after a dominating performance in Sunday's Futures Game.

Hughes was not as good on Sunday, but his stuff was solid, and you could see the makings of a very good player. Unlike Bailey he won't always necessarily amaze a scout, but his polish is pretty unique for a player his age. It's a good sign that Hughes has already turned a corner in AA, and at this pace, he should be up to New York at some point next season.

11. Jay Bruce, of: Reds (A-)

Earlier in the season, I did a study on teenage hitters in the Midwest League. Needless to say, the list of success stories was a short one; the expectation level for this group is (as a result) low. The type of season that Jay Bruce is having so far is unprecedented. Bruce is hitting for power at rates that even Prince Fielder did not at such an age. And he's doing so with a decent-enough strikeout rate. On the shortlist of people that wouldn't surprise me to be atop this list in a year.

12. Troy Tulowitzki, ss: Rockies (AA)

The best combination of offensive and pure shortstop ability on this list. Drew isn't a bad defender, but neither his range or arm can match Tulo up the middle. While Troy is not the same caliber hitter, he is in the ballpark. Tulowitzki offers good power for a middle infielder, and he has the patience learned from three big program collegiate years. Tulowitzki's problem is a strikeout rate that is too high, his one drawback from being complete as a hitter.

13. Andy Marte, 3b: Indians (AAA)

Things were a struggle for Marte much into the season; he was drawing poor reviews and his numbers followed. Marte was a mess; Atlanta and Boston could not have appeared smarter. While it's too early to say Marte has turned a corner, he's done enough to salvage his status as a first tier prospect. We continue to hope that Marte will eventually mold into a superstar, turn his promising young seasons into a star-studded future. Such a breakout may never happen, but color me surprised if Marte doesn't still build a solid career.

14. Carlos Quentin, of: Diamondbacks (AAA)

At this point, the fact that Quentin has not been given an extended trial in the big leagues is discouraging. In the winter, we asked what would by so wrong about Andy Marte to make two (good) organizations trade him. Now, Quentin is bringing up similar questions. Why are the D-Backs so reluctant to give Quentin the keys? At this point, the outfielder has shown patience (while continuing his high HBP totals), a very good contact rate and gap power. Quentin has polish all over his bat, and soon, teams will have to truly investigate what Arizona's asking price is on their #3 prospect.

15. Elijah Dukes, of: Devil Rays (AAA)

It's both a good and a bad sign when the only flaw in a prospect's resume is make-up. We can now say definitively that the Devil Rays did not assign enough value towards make up, but how important is it? The future of Dukes will go a long way in answering this question, he's truly a player whose progress will only be hindered by himself. I won't be surprised if Dukes ends up the best player on this list; I won't be surprised if he is a complete bust. With Elijah Dukes, only the middle would be a surprise.

16. Chris Young, of: Diamondbacks (AAA)

Undervalued before the 2005 season, I thought Young started to become overvalued this winter. He hit for power well, steals bases and plays very good defense, but batting average is a substantial limiting factor. With that being said, Young has struck out in just 18.3% of his at-bats this season, a very positive number. Look for Young's .282 BABIP to improve in the second half, and with it, his batting average. While we'd like it for Young to be showing more on the bases to call him a five tool talent, giving him credit for the "Hitting for Contact" tool is a big step in the right direction.

17. Andy LaRoche, 3b: Dodgers (AAA)

Three straight Bryan Smith pre-2005 breakout selections, sweet! LaRoche answered a lot of questions this season when he turned his Southern League struggles from last season around, looking like a much more complete player. While in AA, the third baseman walked in about 15% of his plate appearances, rarely struck out, and showed some of the power he had in Vero Beach a year before. I wouldn't be surprised if LaRoche struggles a bit as a rookie in 2007, and in the same league as David Wright and Ryan Zimmerman he might not make many All-Star teams, but he's a big chip in the Dodgers reconstruction.

18. Adam Jones, of: Mariners (AAA)
19. Jeff Clement, c: Mariners (AAA)

From a fantasy perspective, Jeff Clement is the Mariners best prospect. The list of power-hitting catchers at the Major League level is a short one, and a list Clement should be adding his name to by 2008. Despite his struggles coming back from injury in AAA, Clement has given the Mariners a lot of reason for optimism about their future backstop logjam. Given how quickly Clement should rise towards the top of any fantasy catcher list, keeper leaguers should have Clement ranked higher.

From a baseball standpoint, Jones is the better prospect. On the bases and in the field, Jones is superior. He brings a unique degree of athleticism to the game - his transition to the outfield has gone seamlessly. And if Jones joins Choo and Ichiro in a Major League outfield, it's quite possible baseball will have never seen three stronger arms in the same outfield. At the plate, Jones has improved as the season has progressed, showing more patience and better contact skills.

Jones shouldn't be a superstar on the Seattle Mariners, but he'll be a good one for a long time.

20. Carlos Gonzalez, of: Diamondbacks (A+)

The Diamondbacks have five prospects ranked higher than the top prospect of 19 organizations. Now really, is there any doubting that (scouting director) Mike Rizzo deserves a GM job somewhere? Gonzalez is not the best bet for success (Quentin) or player with the highest ceiling (Upton) in the organization, but he scores well in both categories. After hitting for solid power in the Midwest League last year, his huge slugging numbers in Lancaster should not come as a surprise. Gonzalez is better than the player he was last year, and not quite the player his numbers suggest currently. But with a few more walks and less strikeouts, the latter could very well change.

21. Jose Tabata, of: Yankees (A-)

Volatility. It scares me. If Tabata flames out, I look too quick to pull the trigger. But any lower, and you look stupid when he becomes a star. For now, his standing towards the back of the first tier will have to do, but it's a long way between now and 2009. Tabata has shown a solid contact rate, good doubles power, solid patience and good baserunning in his full season debut. And he's 17. Or is it, "But he's 17"?

22. Ian Stewart, 3b: Rockies (AA)

As you can tell, with his performance this season, I have dropped Felix Pie from the first tier. Ian Stewart, I have to say, is on the verge of getting the same treatment. While the third baseman is not posting Pie-type numbers in the Texas League, he has been pedestrian. For only so long can pedestrian be good enough. Eventually, we'll have to see that Stewart is going to turn those 26 doubles into home runs, and that he might be able to hit for average. For now, the hope of 2004 lingers enough to keep him in the top 25.

23. Nick Adenhart, sp: Angels (A+)

In a lot of ways, Adenhart is similar to Phil Hughes, a good blend of stuff and serious polish. Adenhart, for three months, has pitched far older than his age and level indicates. While he hasn't posted the double-digit-type K/9 numbers that many pitching prospects ranked higher and lower than him have, Adenhart offers poise that very few in the minors have ... for his age, only Hughes is close. The minor leagues continue to offer success story after success story for the Angels, who have quite the stable of young pitchers in Jered Weaver, Jose Arredondo and Adenhart to go with their accomplished pitching veterans.

Part Two, with 24-75, coming tomorrow...