I'll believe the torch has passed when I see Lorenzo beat Rossi for the title, coming out on top after a Laguna-2008-like assault from Rossi somewhere along the way. This must be followed up by a successful title defense in '11. It's too early to worry about The Doctor's strength; let him get better and then we'll see if he goes on a tear this summer and reels Lorenzo back in. I can't help but feel like he will. Nevertheless, great performance from Lorenzo. If anyone is going to unseat The Doctor, it will be him.
If you look at the remainder of the calendar, I think Rossi has a rather sizable advantage. I'd rate Rossi higher than Lorenzo at Mugello, Assen, Sachsenring, Laguna, Misano, Sepang, and PI. I'd give Lorenzo the nod at Indy, Motegi, and Estoril. Catalunya, Brno, and Valencia are a toss up while Silverstone and Aragon are complete unknowns.
The remainder of the calendar favors Rossi, imo, so if Lorenzo is going to take this thing down, he's going to have to ride flawlessly and he might need a bit of luck as well.