This is apparently another letter from Paul, although according to the Wikipedia article there is some debate that it might be a Paul groupie.
Paul says hi and wishes the Ephesians grace from God.
Spiritual Blessings in Christ (v3-14)
Blessed be to God who has saved us. He predestined us since before the creation of the world to be followers of Christ and to be blessed.
This seems to be one of those things that is only good if you don't think about it too hard. It might sound great to be predestined to be one of the lucky ones. But then what about anyone who doesn't follow Christ? Doesn't it follow that they were also predestined to not follow him? You are basically being rewarded and they are being punished because of a decision God made long before you were even born. Even if you try to justify it by saying they are sinners and you are not, it still comes down to the fact that God decided before the earth was created that you would be saved (and therefore didn't sin) and they would not (and therefore did sin).
Thanksgiving and Prayer(v15-23)
Paul says that he is happy at the Ephesians faith and then talks about how awesome God is.
For the overview post (If you think I should add or remove stuff from this list please let me know, I think it would make good conversation)
1:5,11 Who is and isn't a Christian is predestined by God (note: this is bad because of hell)