Queens were the better team last year and have performed well over the past while too. However, I agree that St Mirren are (on paper at least) the team who we'll be challenging for 3rd/ 4th. If either team finishes 5th this year then it's probably cause for a dismissal, not sure i'd say the same for Queens.
Also, it'd be madness for us to try and spend to finish above Rangers or Hibs. After I stopped laughing at Rangers getting pumped in the playoff I was annoyed as i knew it'd lead to another season like last year, where we can effectively coast without any repercussions. It's poor to see from a fans perspective but makes perfect sense in the real world unfortunately.
I'd be happy with a fight for 3rd and a decent cup run or two. Plus if we're not getting another striker then I'd like to see O'Hara about the team.
ETA- It's only for this year that my ambitions are so low for the team. Hopefully Hibs and Rangers get out of the league this year and we can go for the title next season.