I'm pretty much in line with what HF posted a little while ago, but wanted to add a couple of things....

* The feature east of Bermuda projected to develop appears to have support in the models for some sort of hybrid structure, at least early on, maybe trending a little more towards a tropical nature well down the line. Model depictions of a tropical cyclone not withstanding, it's one to watch in about 4 days. Most likely scenario has it just spinning around as a hybrid cyclone, keeping a weakness in the subtropical ridge that anything developed might - or might not - catch.
* Out into the east Atlantic, I still think that the wave that is now 93L -- the wave between 20-25W from my outlook early this morning -- is the better candidate for development over the next couple of days. The NHC and NRL are just starting to track it, with the former noting a strong mid-level feature but not much of a surface one yet; then again, that's how a lot of these things get started. If the current organization holds overnight and into tomorrow, I figure we'll have a TD out of it by sometime Thursday.
* 92L is just starting to perk up again (the further west wave from this morning's outlook), but I feel it's too broad and too tied up in dry air for any rapid development. Figure this one will have a shot in the 3-4 day time frame, likely as a storm that doesn't catch the weakness in the ridge and has the greater shot to impact land...if it does develop.
* Wave behind 93L just coming off of the coast has a shot like 93L does -- but it needs to stick around the coast for a little while or it might get impacted by the development of 93L. Nevertheless, count on this one likely becoming 94L in a day or two, with the potential for development in the 3-4 day time frame as well. No telling what it might or might not do from there.

It's going to be an active start to August, I'm afraid, and we may well end up with 8 named systems in the basin before 2004 even saw 1. Once Alex came along, however, things really got kicking...might see something like that again this year (activity-wise, not track-wise for now). I think the talk of blowing past our seasonal record is overblown, but we could get close to 20.