As it always does, Week 2 proved that many of the adjustments made coming out of Week 1 by the market were overreactions. The Saints and Bengals were not the world-beaters they seemed after one game, while the Packers and Bills made sure in convincing fashion an 0-1 start didn't turn into a losing streak.

But other Week 1 surprises continued. Maybe the Panthers defense is just great? Maybe the Vikings defense just isn't? Maybe the Raiders are a playoff team? These are questions we'll be seeking answers for in the coming weeks while trying to determine what the true value is for all 32 teams so we can have a better handle on where a spread should actually be in any given matchup.

I've analyzed every Week 2 performance and made adjustments to my own power ratings. Week 2 exposed some of the market overreactions in Week 1 and made us look great by fading a few particular teams. But Week 3 brings some new challenges, including several teams potentially turning to backup QBs due to injury. So where should each line be?

While I try not to be too aggressive with my ratings adjustments, I also know that I'm not going to be 100% correct on how I've rated every single team entering a season. So read on to see my rating for all 32 teams, plus where I think the lines present the most value early in the week.

Which lines are more than a point off their power rating projections for Week 3? And which teams are being undervalued by the market? ... Join SportsLine right now to see Week 3 power ratings from the expert who finished 2020 on an outstanding 80-59 run on NFL picks!