IPOs are back. Is the market healthier -- or is it just bonus time?

Initial public offerings are ready to party like it's, um, 2007.

Eight companies are slated to drop brand-spanking-new shares on the market this week, making this the greatest "flurry" of IPO activity investors have seen in about two years. If it seems like a less-than-ideal time to go public, well, it is. Market uncertainty is tamping down valuations, meaning companies can't tap the public for as much fresh capital as they could during more bullish times.

Still, if all goes according to plan, this will be the biggest week for new offerings since December of 2007, when nine IPOs priced in a week. That's hardly a blizzard of activity, but it does underscore how far we've come since the near collapse of the financial system a year ago. Indeed, there were no IPOs in September or October of 2008 and just two deals priced in the six months following Labor Day of last year.