They are level, but Ipswich definitely have the better squad (on paper at least) and they have the experience of getting out of this league, and cash to spend in January.
So, in theory at least, you would expect them to be the strongest challengers.
In reality, teams in this league tend to go on little runs, which rockets them up the league, before falling away again.
Stoke had their run at the start of the season but are falling faster than a tarts drawers now.
Derby had a great run but injuries to strikers has halted that.
Norwich have started a little run, but have a mountain to climb
Hull have had a run of late but I suspect they will drop away again.
Millwall have stuttered after looking good, same as Southampton.
In short only the top 2 have been consistant all season (so far

)