The draw is out. It looks like this:
Johansson vs Spadea
Bellucci vs Kunitsyn
[Q] Stadler vs  Karlovic
Karanusic vs Horna
Volandri vs Reynolds
[WC] Dancevic vs  Nalbandian
Got some tricky grasscourt players in the draw early on (Dancevic, Lopez), it certainly could have turned out easier but it's not necessarily troublesome. Could have got an easier first round - Dancevic won a grasscourt challenger event recently I think, but at least the matchup should favour him. Lopez, of course has done well at Wimbledon in recent years.
I won't say much about a potential 4th round encounter, because I think that if that happens, opinions will have changed as to the form of the respective players especially since Baghdatis hasn't played much either, not to mention that it is ages away. Although I do remember the drubbing that Baghdatis handed him last year at this same tournament.