Even though I think the Raptors are going to be the 1 seed, I would give them <1% chance to beat the Cavs in the playoffs. They have no one that can even pretend to guard Lebron James. James will just have a field day on them just as he did last year when the Raptors had Tucker, Joseph, and Carroll to throw at him (along with Powell, DeRozan, etc.).
Boston has a better shot at beating Cleveland than Toronto does, but I don't think Boston would beat Toronto in a series, which is why the actual seeding matters this year. Boston needs the 1 seed so that it only has to face either Toronto and Cleveland and not both (I can't see any other team realistically cracking the top 3, but I suppose it is possible that this Cleveland slump lasts longer than last year and some other team gets hot).