No Leicester are, have been since the start of the new year.
I'm not necessarily talking about remaining fixtures because we all know anything can happen in the Premier League. People will point to the fact that Arsenal and City still being in the Champions League lowers their chances of winning the title but we all know that most likely neither of them are going to be in it much longer, Arsenal especially. I'm talking about experience of being in the Top 4 and winning trophies. The way I see it, Man City are the 'best equipped' team in the Top 4 to win the league. They have the 'best players' and they have title winning experience. I mean, would you be shocked at all if City still manage to finish above Spurs and Arsenal? Spurs and Arsenal are experienced bottlers.Have you seen our away fixtures? It would be miraculous if we won the league.
You're both right. Leicester are odds on favourites now. Leicester have a 6 point advantage on City. So not finishing above City at least will be their own fault due to not having to play 'Top 4' opposition for the rest of the season. Also, they're out of the FA Cup.
...buuuuuut, who knows how this result will effect them going forward. Other teams can look at how Arsenal played in their two games against them this season. As well as their loss to Liverpool, and Spurs in the Cup.