Well let's go through the batting line up, and my opinion on each of them:
Opening: Sehwag, Gambhir, Jaffer, Karthik
Traditionally has been weak, but there was a period of hope when Sehwag was in form but even then, there was no one who the selectors had faith in on the other side (Chopra would have been nice and should have been given more chances). Now, Sehwag has fallen away. His second innings record, even in his prime, is horrendous. Not bad, but horrendous. He made it up with his first innings scores for a while, but no longer. His technique meant that he was always going to struggle when things got tough and he needed to bunker down to fight his way through great bowling or through his own dip in the form. I really don't see this situation improving any time soon.
Gambhir and Jaffer are old fashioned flat track bullies, plain and simple. Gambhir needs to have his leg amputated, as he can't seem to use it properly. Jaffer made a big score, and makes some here and there, but largely looks out of sorts against quality bowling in bowling frinedly conditions. Not what you want from an opener. Karthik is doing well, and I hope he continues to do well as his positive intent is a breath of fresh air amongst all the all curmudgeons infesting the rest of the batting line up, but I don't think he is a long term solution there. I firmly believe it is a specialist position, and while I support him being there as long as he continues to score, I don't really have the faith that he'll be opening two years down the road.
#3: Dravid
The position is his obviously for the foreseeable future. But he is not young anymore, and whenever someone is out of form like he is now at his age, the questions must be asked if he is starting to be past it. Obviously too early to make that call now, but he is the rock that the rest of the batting line up revolves around, and he is desperately needed in the short and medium term.
#4: Tendulkar
Past it, and has been past it for a while. He shows some sparks from time to time, and gets starts often enough, but cannot convert them. Can he contribute still? Maybe, but I have to start wondering if there is no one in India who can score more than him. I said before and I'll say it again: this tour is make or break. India could use his experience, but cannot afford to take someone of his current form to Australia. If he gets going in England, good for him and good for India. Otherwise, it is time to move on. He won't be dropped, but maybe he needs to decide to retire for himself. Selectors need to tell him this frankly. He has ridden on his reputation too long, and while Lara averaged 38 between 1996-1999, Tendulkar's form is worse. And he looks to be a mere shadow of his past self.
#5: Ganguly
Ah, the guy who is easily the worst Test player of the middle order is outshining the rest of them, even though he is clearly not playing at his best. Yes, that's how bad it has gotten for the rest of the middle order. Full credit to Ganguly for proving me wrong, and I am impressed at his conviction. The man never lacked fight, and he is showing it right now. He is full of technical holes and was never a great Test player, but he is becoming the one guy you can count on to at least deliver a few runs. Good for him, and I hope he keeps it up. But even a this best, Ganguly is hardly anything more than a 'good' Test player.
#6: Laxman
Well Laxman IMO was never really part of the 'star-studded' batting lineup. He has a knack for playing a sublime innings in between a whole load of crap. Against Australia he turns it on, but against everyone else, barring the odd knock here or there, he is quite ordinary. And has always been that way. Considering his fielding and running, I don't really care much if he is in the side at all.
#7: Dhoni
Mumbai 2006. Enough said? To jar your memory, those two shots were the most irresponsible and dumb-headed moves on a cricket field in a long long time. Not only did he advance down the track once when India were fighting for a draw...he did it again thirty seconds later, and admitted that 'pressure...it does things to you.' Thanks for admitting the choke-job Mr. Dhoni, at least you're honest about yourself. He is a fine one day player, and might be fine in India, but is a walking liability in unfriendly condition. Plus his keeping is not top class. He is there because of his batting, and that's clearly not up to Test standard outside the subcontinent. In the end though, even if I would like a better keeper who can contribute with the bat and can hang around with the tail or provide support to the top order, he is not the biggest worry.
Best lineup in the world? No. Second best? No. In fact, on form, and not reputation, it is as bad as the WI line up. Except no one is in the form Chanderpaul was.