1) Why are they no longer an elite running offense? I would say that they've gotten away from the run a bit more this year because they've come to the conclusion that the NFL is still a passing league. Having said that, Greene still has a very good YPC, and they've done a very good job of keeping Sanchez upright as well. I think that with LT's YPC creeping downward, we will see more Greene and more of a dominant rushing attack. Losing Faneca hasn't been an issue. Slauson has been very good, and Faneca was a "name" player whose production didn't match his reputation or salary.
2) The offense looked unstoppable earlier in the year after Sanchez was allowed to open it up. Then they add Santonio, which should mean more explosiveness. Now they can't put drives together? What's the deal? Schottenheimer? Execution? Just dropped passes? I honestly think that a lot of the issue is with Sanchez. He is one of the most maddeningly inconsistent QBs I have ever seen. He misses short, open throws, then he makes incredible throws like his TD to Braylon yesterday. And then he throws an interception when he has Holmes open in the end zone. Also, he frequently locks on to his receiver which really stunts the offensive production. I honestly have no idea how he can be such a Jekyll and Hyde QB. In weeks 2-4 he had 8 TD, 0 picks, and he was reading the field like a veteran. Now, he looks lost and often forces the ball to a pre-determined read. I have no idea why this is or who the "real" Sanchez is, or whether we should blame Schottenheimer or Sanchez or a combination. But, I have to keep in mind how well he played in the playoffs last season and earlier this season as a reminder that he has the talent to be a very good QB, and hope he can get his act together for the playoffs.
3) Why is the defense not as dominating as they were? An owner in our league, a die hard Jets fan, has now put them on the block. He would have never done that before. What gives? Why aren't they the stop unit they were before? The simple answer is that the Jets didn't have a healthy Revis for much of the earlier season. Revis seems to cause a lot of controversy on this board over the whole "Revis Island" thing, but if you watch every Jets game then you understand how important he is to the Jets D. Since Revis has been healthy, they have faced two very good offensive teams and held the Packers to 6 offensive points (3 came off a fake punt) and held the NFC's top scoring team to 20 points, 3 of which came because of a stupid penalty. Now that there is no doubt that a healthy Revis is back, expect to see more exotic and heavy blitzes, and presumably, more success. I would whole-heartedly recommend the Jets D as a "buy-low" for fantasy purposes. While it's true that the Jets D does not have an elite pass rusher which would make the defense out of this world, it will still be an elite unit with a healthy Revis.
Unlike other teams, I don't see injuries as a valid excuse to any of of the above.