Here's my own reading of some of the top teams:
Australia - Probably the strongest all-round of the teams. The batting is class throughout, and having Bradman is like having two worldclass batsmen, while Gilchrist bats a 7. The bowling, with four all-time greats and a very good back up pace bowler in Miller, is capable of handling almost all conditions. Very tough to see how they can get beaten.
West Indies - Perhaps second only to Australia. The middle order of Richard, Headley, Lara and Sobers is frightening, while Marshall, Holding and Ambrose are as good a pace trio as any other team. They lose points with the inclusion of Gibbs, as having Gibbs and Sobers bowl after the pacers definitely lets some steam off. A battle between them and Australia would be a clash of the titans.
South Africa - Strong contenders for the top team. Four worldclass all-rounder gives them plenty of options. They have five dangerous bowlers plus Kallis and batting that runs till no.9. In Tayfield, they've covered the usual weakness of lacking a worldclass spinner. No real weak links then, but I think somehow a conservative approach may cost them against Australia.
Pakistan - Perhaps the best pace attack with four truly great pacers and captained by Imran they will be tough to beat. I think they lack compared to others in the middle order/lower order. Miandad, Inzi and Zaheer are superb but all of them have relatively weaker records against top teams of their times that suggests that runs may be an issue when facing Lillee, McGrath or Marshall.
England - It is hard to know where to place England. Putting Pietersen in the lineup seems foolish at this time, but the batting still is quite strong while the bowling attack has covered the bases. Difficult to read how good they will be.