I'd like to think so, but this could easily play out like it did with Stanford last year (everyone thinks that they'll win a weak conference, then it turns out that they actually stink). Though they could be a lot better than Stanford was; they were clearly a very poor team.
Arkansas can make some shots, but they don't seem like a very smart team. Undisciplined shot selection and sloppy ball-handling, not terribly strong defensively. We'll be rooting for them, though.