I was only a kid at the time but there wasn't a lot of hype, IIRC.
As a poster mentioned above, the Rangers had an up-and-down start to the decade. After winning the President's Trophy in 1991-1992, they were ousted by Lemieux and the Cup-winning Penguins in the Conference Finals. The following season was a disappointing one. Finished under .500 and missed the Playoffs. In 1993-1994, they didn't have any big free-agent signings coming into the season. Though they were never shutout the entire regular season, they didn't have any notably offensive stars. Zubov lead the team in scoring. They were very balanced, went about their business, had good leadership, and made some successful deadline deals. They won the President's Trophy, but we had heard that song-and-dance already in 1991-1992. I don't think people really thought it was going to be a special season until the Conference Finals.