Any player is just as good as his team... Dhoni will not be there if his team isn't good enough...
Dhoni is not like the Dhoni of old. He is not a flamboyant batsman anymore and his mindset has become mature almost overnight. He is ALMOST boring with the bat these days although we can't count him out for a second.
Dhoni and the others failed to win the IPL last year... Nothing much has changed although they do have a stronger team now, but so do some of the others...
I disagree that Dhoni has become boring with his bat. Less flamboyant? Maybe so, but his maturity is keeping him from making reckless moves that could just as easily go against the team. And while Dhoni is a valuable player, one man does not make the team.
No one man does not make the team. However, the team is only as good as the men on it. That said, the team would definitely suffer without Dhoni.
Dhoni is certainly a very good player, and a crucial part of the Super Kings, both for his great playing, as well as that certain type of in-game leadership that he offers to his team-mates. Although perfect he may not be, he still is somebody you can count on to deliver.