Epsilon
#basta
I knew someone would say this, but I just don't see it.
They were the President's Trophy winners, had the Hart winner on the team, and other great players like Boyle, Lecavalier, and Richards. Also great complimentary players like Kubina. And don't forget that Khabibulin was probably a Top 5 goalie in the world for a couple of years before the lockout. In 2003, the Lightning looked like a great up and coming team, so it's not like they came out of nowhere like the 2006 Canes. I think the lockout and bad cap management killed the chances of the Lightning having an extended run of success.
Agreed, that team has a bunch of players who won't be considered especially great in an all-time context, but for that season at least they were all at the top of their games and the result was a really strong team.
I agree with the poster who said last year's Penguins don't get mentioned enough as one of the weaker Cup champions. That team underachieved all season long, got hot at the right time, and relied mostly on two great forwards and a streaky goaltender (who was able to keep his bad streaks just short enough and his good ones just long enough) to escape with a very close Cup victory.