Comeback of the year. Or belly-flop of the year. There's no middle ground for Whitney Houston.

The troubled diva -- who has free-fallen from chart-topping singer to late-night punchline in recent years -- is attempting the mother of all returns with her sixth album I Look to You, her first new CD since 2002. Will it save her career or seal her fate? Let's consider both sides.

The upside:

1) Everybody loves a comeback;

2) The disc was shepherded by music biz legend Clive Davis, who has enough muscle to shove it into the charts;

3) It was written and produced by heavyweights like Alicia Keys, R. Kelly, Akon, Diane Warren and David Foster;

4) Houston is embarking on a full-court promotional press, including an Oprah appearance;

5) The album comes out tomorrow instead of Tuesday, so it can be eligible for this year's Grammys -- where it's likely to garner a slew of noms;

6) The CD ignores trends and returns Whitney to her wheelhouse of lightweight '80s R&B and bombastic ballads;

7) Houston still has those powerhouse pipes.

The downside:

1) The title cut and first single stalled at No. 74 on the charts -- not exactly a stellar debut;

2) Houston is 46 -- a little long in the tooth to tap into the youth market that drives the industry;

3) The CD's old-school vibe could be seen as dated instead of a return to form;

4) None of these understated songs possess the undeniable stopping power of I Will Always Love You;

5) That publicity campaign can collapse from one bad interview -- remember "Crack is wack"?

History will be the final judge; meanwhile, here's my verdict on the tunes:

Million Dollar Bill 3:24

Keys penned this bouncy R&B single built from a funky bassline and swirly keyboards. Houston indulges her playful pop side -- while warming up with a few big notes.

Nothin' But Love 3:35

It starts with synth notes -- but since the online distribution service that SonyBMG uses barely works on my Mac, I can't hear more of the song than that. Sorry.

Call You Tonight 4:08

Sweet arpeggios, a shimmery swooping melody and a classic beatbox set the stage for a mellow dollop of midtempo soul produced by Stargate.

I Look to You 4:25

This God-loving piano-and-strings ballad slowly swells from a bare-bones opening to a stirring crescendo -- but without going over the top. Nicely restrained.

Like I Never Left 3:49

Akon delivers the disc's only guest spot on an understatedly funk-pop duet. It's nice, but somebody who could match her vocally would have been better.

A Song for You 4:11

It starts as another piano ballad -- but midway through, this cover of a Leon Russell oldie transforms into gently pumping synth-funk.

I Didn't Know My Own Strength 3:40

Diane Warren wrote this self-empowerment ballad. David Foster produced (and orchestrated, presumably). Amazingly, it's not as shmaltzy as you'd expect.

Worth It 4:39

Another laid-back midtempo groover, with Whitney singing, "I know somebody's gonna make love to this song tonight." Thanks for the visual.

For the Lovers 4:14

Laced with clickety percussion, buzzy synths and breathy vocal injections, this has a Michael Jackson-circa-Off the Wall feel.

I Got You 4:12

Whitney's proclaims her undying love over a thumpy slow-burning beat decorated with pulsing strings and layered backup vocals.

Salute 4:10

"Don't call it a comeback," orders Whitney on this lush midtempo closer from R. Kelly. "I've been here for years." Yeah, but reality TV doesn't count, honey.