That's a pretty fair line ... I'd probably bet on the Blazers to cover though; I don't envision this being a total blowout.
I take Phoenix. Based on the extremely small sample size we have, Portland plays crappy in game 1's, AND our best player isn't playing. Phoenix also has the best record since the allstar break.
I wouldn't touch it. Phoenix is more than capable of extending a huge lead, especially at home, but there are just too many question marks on our side to count on it. It all depends on who can exert their style and pace, and clearly the oddsmakers are saying that Phoenix will be more successful at raising the tempo. The O/U is pretty high as well -- over 200 last I checked.
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I'd say the Blazers either win or the Suns have a bigger margin than that. If the Blazers lose this game, it will be because they fail to slow down the tempo, in which case the Suns will probably win by double digits.