It's harder to say right now because so much of the defense comes off the books then. I think it's pretty solidly the following on F, D, & G:
Keller
Schmaltz
Garland
Dvorak
Crouse
Kessel (NMC*)
OEL
Chychrun
Oesterle/Lyubushkin**
Kuemper
That leaves an open slot for F and Kessel. I foresee the slimmest of possibilities that Kessel may waive as he's unlikely to get picked up. It's also putting the risk of him being moved entirely on himself rather than the team and how likely is a player to do that for a team. Maybe if Tocchet goes, he'd be open to it. There's also the issue of when the signing bonus gets paid - before or after the expansion draft. I don't know what the offseason schedule looks like this season, but the Coyotes were to pay it, he's not a high cost for what could be a good marketing tool.
I guess I'd protect Fischer as of now simply because of the age of Pitlick and Larsson, and Fischer is an RFA. I'm not really torn on it though, and this is a situation where I'd rather use players of that ilk to try and pry something out of a team that can't afford to protect some one of value. Offer them some pieces in exchange for some one they assuredly would lose, then they only end up losing one of the pieces you sent while still coming out of the expansion draft with something for the valuable piece. I was honestly surprised teams kept dealing directly with Las Vegas in the last expansion draft instead of the league playing musical chairs to minimize their losses, and I think Chayka had been playing on partaking in that, but it obviously didn't happen. I think a lot of teams handled it extremely awfully in that sense, so perhaps it'll be less of an issue this time.
Frankly it's ridiculous that the Coyotes lost a player of the caliber of Pulkkinen while some teams sent two assets to Las Vegas to ensure they took the second best exposed player they had. Teams failed to make moves to lower their loss while some teams like the Coyotes offered at best a zero value asset. Better to deal with the entire league to tighten up the variance in value across the league than to resort to only dealing with expansion team.
When it comes to defense, I think assuredly they'll protect OEL and Chychrun. Depending on contracts, I could see either one of Oesterle or Lyubushkin protected. Maybe one of them gets moved along with one of those eligible forwards and we end up with a better forward or defenseman to protect with the last slot, who knows.
You look at a team like Minnesota and see they have 3 defensemen with NMC, but not Dumba. Perhaps instead of just losing him in the draft, the wild and Coyotes can work out a deal to send some combination of Fischer, Pitlick, Larsson, Oesterle, and/or Lyubuskin plus whatever in picks/prospects. That way the Coyotes can protect him, while the Wild lose one of however many of those guys they acquire, but keep the remainder and picks/prospects.
Anyway, in conclusion, the team is sitting nicely and unless teams want to handle the expansion draft irrationally again, I am hoping we'll see moves made of this sort that the Coyotes are primed to take advantage of.