It’s the National Hockey League’s version of an arms race, a Cold War of sorts.

The developing and cultivating of assets has been rampant in the Central Division over the past few seasons, if not several more before that. Powerhouses have arisen, some likely — Nashville, for instance, and Winnipeg, too, with their drafting.

Others have forged different paths. The St. Louis Blues tricked the world in January when they sat in last place in the NHL, only to hoist the Stanley Cup in the middle of June in one of sports most remarkable comeback stories.

From Manitoba down through Texas, the Central has become and remained hockey’s toughest division, one where aggressiveness in the trade market, in the scouting department and on the draft floor has paid off in dividends for those who have been patient to allow their teams to blossom. And those who have been able to unload and reload, too, have found success.

Four of the past 10 Cup champs have come from the division, and while the Blackhawks have won three of those, others have come close, including the Predators who reached the Cup final in 2017.

The paths have been many, and it’s resulted in a division full of legitimate playoff contenders, if not Stanley Cup ones as well.

It’s a proper standoff.

Let’s delve a little deeper into the Central Division waters, shall we?

[ProHockeyTalk’s 2019 NHL free agency tracker]

On the rise

Dallas Stars: They have grown one of the best defenses in the league, command one of the best goalies in the NHL and added a lethal scoring threat in Joe Pavelski this summer, took a cheap and calculated risk on Corey Perry and took a chance on the oft-injured Andrej Sekera.

If the payoff becomes more goals, a rejuvenated leader in Perry and a stout defenseman that Sekera can be, the Stars, who were a goal away from the Western Conference Final this past season, could be a major player in the division.

Colorado Avalanche: The Avs have made their intentions clear. After an unlikely second-round appearance in this past year’s playoffs, the Avs have added the fourth-overall pick thanks to offloading Matt Duchene a couple seasons ago to the Ottawa Senators, who were horrible last season. They signed Joonas Donskoi in free agency, Pierre-Edouard Bellemare, too, and pried Andre Burakovsky away from the Washington Capitals and Nazem Kadri from the Toronto Maple Leafs in an aggressive start to the offseason.

Colorado already has some of the best offensive weapons in the NHL with Mikko Rantanen, Nathan MacKinnon and Gabriel Landeskog. It remains to be seen if their defense takes a hit with the loss of Tyson Barrie in the Kadri deal. But a young team got a good taste in the postseason this year and the additions made can only make the team better.

Still strong

Nashville Predators: The trade-off for adding Matt Duchene was shipping out P.K. Subban. It’s a steep price to pay, but one mitigated by having one of the best defensive cores in the NHL even without Subban’s services.

Duchene should add much-needed goal-scoring to the club, including on the power play where the Preds were abysmal last year (12.9%, 31st in the NHL). The Predators still ooze talent, and they’re a tough-as-nails team to play against, Subban or not. They’ll challenge once again for a third-successive division crown.

St. Louis Blues: The Stanley Cup champs found a way to make the best of the sum of their parts. It’s not that they didn’t have skill, but they also didn’t have a bona fide superstar, at least during the regular season.

But a rugged team that bands together seems to be a squad that can find success, despite whatever perceived lackings they have (see: Vegas, 2018). Jordan Binnington remains a question mark only because we need to see him play a full season at (or at least near) the level he produced after getting his first NHL start on Jan. 7. Ryan O'Reilly was exactly what the team needed and if Robby Fabbri can stay healthy, they could get a good shot of talent injected into the roster.

The Unknowns

Winnipeg Jets: Losing Jacob Trouba hurts. How much so remains to be seen, but taking a top-pairing defender off any team is going to expose a gap that can be exploited.

The Jets are going to get younger once again this season, especially on the back end where they’ve lost Tyler Myers and Ben Chiarot. Those aren’t losses that will hurt the team nearly as much, but its experience not on the roster anymore. The Jets will have competition for those spots and could still make a move on the back end (perhaps Jake Gardiner if they could make it work) that would improve that situation.

Signing Patrik Laine and Kyle Connor comes first, however. Andrew Copp, too, along with Neal Pionk, part of their return for Trouba. The Jets still need to sort out their second-line center issue. Who plays with Laine is a big question with no answer at the moment. The Jets aren’t the Stanley Cup contender they were two years ago, and they won’t be riding the same hype train they rode coming into the past season. They also won’t be terrible. They’re still a playoff team, but the ceiling is unknown at the moment.

Did they improve?

Chicago Blackhawks: They’ve made some moves, giving Alexander Nylander a second chance while acquiring Calvin de Haan and Olli Maatta to make their defense stouter. And they have a quality 1-2 punch in goal now with the addition of Robin Lehner, who is some of the best insurance you can have with Crawford’s injury proneness.

Will Dylan Strome continue to flourish as he did last season when he joined the team? Alex DeBrincat is a very good player and they still have Patrick Kane and Jonathan Toews. Part of their backend is still fossilizing, however. And can Corey Crawford remain healthy? They signed Robin Lehner, so that could take some uncertainty away.

I’m inclined to think Chicago has gotten better and can compete for a playoff spot. I’m just not sure they’re on the same level as the teams above.

The struggle

Minnesota Wild: One wonders where this team is heading. Signing Mats Zuccarello is a good addition and taking a cheap chance on Ryan Hartman isn’t half bad.

But even with that, where is the goal scoring coming from? They traded away Mikael Granlund and Zuccarello has broken the 20-goal barrier just once in his career. Zach Parise isn’t the player he used to be. Eric Staal isn’t getting any younger. Ryan Suter can only play so many minutes a night and Devan Dubnyk took a step down last season, along with the rest of the team.

Scott Billeck is a writer for Pro Hockey Talk on NBC Sports. Drop him a line at phtblog@nbcsports.com or follow him on Twitter @scottbilleck