South Africa
New Zealand
India
Australia
Pakistan
England
Sri Lanka
West Indies
Bangladesh
Zimbabwe
I still think South Africa are first despite their batting being exposed in India, I suspect they might be on the decline as their bowling attack isn't especially young and their batting in general looking less solid these days, but they seem the most reliable in all conditions still and I want more evidence. If they get rolled by England I'll reconsider, but I don't think that's likely. The fact that the India series was their first away loss since 2006 is damn immense.
Next five (Australia, England, India, New Zealand, Pakistan) have little to choose between them. New Zealand take 2nd for mine because their away record is a fair bit better than the rest. Drew with Pakistan and England, and competed well with Australia after the first Test. That said, I worry they've fallen away a bit since the World Cup, especially with their bowling.
India next, they still need to sort out their seam bowling to consistently be a threat away from home, but they look a nasty side to knock off in their own conditions and everything else is pretty strong. How good a seam bowling batting all-rounder would look for them right about now.....
I'll take Australia next, yes our batting can be collapse-prone, but I'm not convinced it's more collapse-prone than the rest of the world away from home. And our bowling, while a bit unproven, looks really promising.
Pakistan next, very good in their own conditions, but I worry about them outside of Asia. Yes they haven't toured recently, but when they did it wasn't pretty. Misbah's about to retire, Shafiq and Azhar are pretty inexperienced touring and the rest of the bunch that isn't named Younis Khan is patchy. And they don't really have the seam bowling to make up for it either.....
Making up the chasing pack is England. Just don't have the depth to remain consistent. They'll probably develop more with more experience, but I still have question marks over their batsmen who aren't Cook and Root.
Sri Lanka's bowling attack is actually pretty decent, and Mathews is a gun. Unfortunately their batting line-up on a whole is sorely lacking in depth and experience. Funny how 12 months ago there was a semi-plausible case to have them second.
West Indies are pretty dire these days. I think their bowling could be good but the sum doesn't equal the parts (Taylor and Roach never seem to play well in the same series, for example) but their batting has a case of being the worst out of the Full Members of the ICC. Honestly they're lucky to remain ahead of Bangladesh, who are much improved in their own conditions and actually have a bowling attack that can cause damage in other areas of the subcontinent (i.e. pitches that aren't roads)
Zimbabwe are sadly getting worse and worse, and it may not be long before their Test status gets suspended again.