Two points behind us with 10 deducted - with no further points deducted, on current points per game they finish with 36, we finish with 33. Given their appeal and both clubs' further charge, their position in comparison to us isn't likely to get worse and could easily get better (yes, they seem to have lost the initial impetus they got from the points deduction but that's potentially just form).
On the bigger picture, I'd say bookies have a small (or zero) points deduction priced in. If the expectation was 10 or more, there's no way we'd be ahead of Luton (they are also currently on target for 33).