I don't think the difference will end up being as big as we hope, but if we break it down, who is their best player? Parker? Lavine? Carter?
Augustin (If we have last year's Augustin) is fairly equivalent to Dunn. He was better last year, but Dunn likely has some room for improvement, so I would call it a wash.
Fournier is fairly equivalent to Lavine. Lavine is young, so again has more room for improvement, and is more athletic, but Fournier is at least a mediocre defender.
Isaac and Parker are the wild cards. Parker is the better offensive player- but honestly, kind of mediocre when it comes to efficiency and seems to be more of a ball stopping scorer then a guy that works within the offense. He is also a minus defender. Isaac on the other hand projects as an elite defender with an okay offensive move-set. I think it goes to Isaac, as a player who is elite on one end and okay on the other should be more valuable than a player who is good to very good on one end but bad on the other. (Is it bad that I think of Jabari as the tweener version of Vucevic? That is probably not fair, right?)
Gordon vs Markkanen is a definite win for us. I think Gordon is clearly better than any player on the Bulls, though I am sure that someone would try to argue with me.
Bamba/Vuch vs Carter/Lopez. As Bamba and Carter are both rookies, I cannot really predict which will be better this year. Vuch is more talented than Lopez, but I kind of feel like Lopez has a more positive effect on team play.
Our bench is probably slightly better than theirs.
Over all though, I think the Magic should just do better based on identity and team fit. The Magic are potentially an elite defensive team, if enough things go right, with enough offensive talent to be able to grind out some games. The Bulls, on the other hand, are filled with offensive players of mostly mediocre efficiency who are generally poor at defense. Both teams are young, but I also think we have a lot more potential hiding in our team then they do.