Swansea have a team that should pretty much get promoted in 2008 to begin with though a few areas could do with strengthening to begin with.
Goalkeeping is solid with de Vries who can go on to be a good championship keeper
I tend to look for an experienced backup on loan as Knight is not god enough. Could do worse than Rab Douglas
Defence looks fairly weak to begin with but it's actually pretty decent at this level. Tate at CB can go right to the premier league, O'Leary or Monk alongside him are good enough at Leage One level. Painter on the left isnt really league one level yet but can do a job if needed and go on to be a championship player, Amankwaah on the right seems to play more solid than his attributes suggest. Austin is OK for half a season but Lawrence, Watt, Rangel and the youngsters are all rubbish.
I tend to try to strengthen a little before the start of the season. If you have budgets turned on then Marcus Williams (LB, Scunthorpe) is a good option, can play up to prem level but I've never got him to stay happy for more than 2 seasons before wanting off, still he makes you a tidy profit. Adam Eckersley (LB, Man Utd) or Martin Olsson (LB Blackburn) are tidy loan options. At RB Neal Eardley is a decent shout as he is one of the more consistent players at all levels but will cost you quite a bit early on.
At CB I once signed Brian McLean (CB Motherwell) but he's never wanted to come since then. Owain Tudur Jones is actually more than capable of dropping back and playing alongside Tate at League One and Championship level though and is fantastic heading at corners to boot. Phil Bardsley and Danny Simpson (Both Man Utd) may also agree a loan occasionally.
Swansea have three cracking players in the Midfield in Pratley, Bodde and Britton, I tend to play a 4-5-1/4-3-3 formation just so I can fit all three into the team. Darren Way is a decent backup (if you can keep him fit) and Matt Collins can plug a hole if desperate. Craney is useless.
No need to strengthen there really though I did once bring in Richard Hughes after he got released and he was immense for a couple of seasons.
On the Wings Anderson is worth the £5k p/w on the right, the left is pretty barren, Orlandi isn't good enough and while Robinson can play there you won't get a decent cross from him off his left foot. The less said about Tommy Butler the better.
The best option is Lee Martin (AM L, Man Utd) on loan or convert Anderson to a AM L and use Robinson on the right. If you fail to get him then Johan Cavalli (AM LC, Free) is also good but won't go much higher and asks for high wages.
Strikers, Scotland is a goal machine in League One, surprisingly good as a lone striker despite attributes that would indicate otherwise. Duffy is decent enough backup. If you play 2 up front then Feeney can do a job as well though I tend to get rid of him on principal of him being a Cardiff player. Mid season Michael Mifsud (ST, Cov) becomes available for peanuts and is great in a front two, him and Scotland together scored 2.3 goals a game between them for me once in the second half of the season.
After the inevitable (or should be) promotion look out for players like Todor Kolev (ST), Blagoy Georgiev (AM RC), Mariusz Niculae (AM LC, ST) and Andy Butler (D C) all interested in joining and very good at Championship level.