I have taken the basis used to create the MLB playoff simulator and constructed a version for a best of seven series. This simulator calculates the conditional probabilities for each team given a 16 team, best-of-seven tournament.
Currently, this is best suited for tracking the NBA playoffs and John Hollinger runs a similar simulation here.
The NFL and NHL playoffs reseed their brackets so look for a future revision to tidy up the simulator for use in those sports.
NBA Playoffs Simulator
Original author- Erich
Revision date- 20090415