I think there is pressure on Hingis and I agree that people have high expectations of her. They probably don't expect her to win the AO or even make the final, but they expect some progress and by much later in the year, they will expect tourrnament victories and eventually for her to be back up there battling the Williams sisters, Lindsay, and the newer stars as well.
There is a mystic about Hingis and she will eventually have to live up to it at least somewhat or a lot of people will be disappointed. But comebacks are interesting, because they are hard to predict. Monica had the same kind of mystic and for awhile, it looked like she would return to her pre-stabbing glory. In fact, she did win one slam, the '96 AO, but only got to one other slam final. But she never lived up to past glory and people sort of divide her career into two sections, pre and post stabbing. Hingis was actually out a little longer than Monica, but the comeback problems are comparable, especially since Monica returned to find plenty of other up and coming players whose power matched her own and a few without power who could best her on a regular basis. Topping that list, of course, was Hingis.