Bolded part: yes, but only in terms of taking 20 wickets. The Aussies have an attack that will do so as comfortably as the WIndies attack. It's then a matter of cheapness. Where I think WI are slightly ahead but I think the Australian batting line-up more than makes up for that.
Of course, nobody is suggesting that Australia bowling will fail to take 20 wickets, just as nobody is suggesting that the WI batting will spotaneously collapse every time they bat. Where we differ is how much Australia's batting advatange (thanks mostly to Gilchrist) makes up for WI's bowling advantage.
In my opinion, a weaker batsman like Dujon rather than Gilchrist can be compensated for by the strength of the rest of the batting lineup. But a weaker bowler like Gillespie or Brett Lee is much more of a handicap, as you only have four bowlers to start with, and there is a greater likelihood of a bad day for the above mentioned, putting a lot of pressure on McWarne. With the WI, there were no weak links.
Can you honestly say that McGrath/Gillespie/Warne/Lee will take wickets as easily as Marshall/Holding/Garner and 1 of Roberts/Walsh/Croft?
I reiterate, test cricket in general favors the better bowling side. It's why Australia were able to beat WI in 74-75 and lost in 79-80. If this was one day cricket, my money would be on Australia.
In the end: WIndies had a better series record in terms of not losing for a long time, but Australia had a better much better record in terms of winning Tests. As someone posted before, the difference between their losing is ~2% but Australia win far more and the WIndies drew far more. Yet when you look at the teams in the eras they played Australia's record is more impressive IMO.
I'm sorry, no matter which way you cut it, the record of not losing a series in 15 years is >>>>> more impressive than a 0.8 percent difference in winning stats.
Personally, I just think Australia is a much better balanced side and played far tougher opposition during their reign. Unfortunately, for some, nostalgia seems to think of the WIndies as some noble team whereas Australians were of a "win by any means" character (and said with the emphasis being negative).
The tougher opposition clause doesn't apply in the 2000s, as I've shown.
It's not nostalgia, WI simply had a bowling attack unmatched in cricket history, the best no.3 since Bradman, and other fine batsman to help him.