I think Irina hit her peak in Moscow and she will be hard pressed to repeat that performance, especially since the Olympics are in Torino. If you recall, Irina's worst skate of the year was at Euros---in Torino. The combination of her chronic illness and the Torino altitude will work against her.
TeamIrina gained valuable experience in Turino. She already knows about the altitude and she knows what schedule she can maintain to stay completely healthy and competitive for this season. She made her statement boldly this year, she's shown she is still willing to work hard, compete and push the sport. She'll get her programs out before the judges but I think she'll stay away from unnecessary fluff competitions. Irina loves to compete and to skate so you won't see her simply sitting out unless she is really ill.
Remember too that Euro's was on the back end of a hectic month in December with 4 major competitions in one month. Irina won't be doing that much traveling in 06.
Back to topic, I think Irina is of course in a great position to win Gold. I think Sasha is too if she stands up, Michelle if she decides to take a season seriously for a change and and I'd not count out the Japanese Suguri.