Just backtracking, lets check out the end of year PwC ratings:
1 Ricky Ponting AUS 907
2 Brian Lara WI 897
3 Matthew Hayden AUS 893
4 Rahul Dravid IND 881
5 Inzamam-ul-Haq PAK 811
6 Jacques Kallis SA 790
7 Herschelle Gibbs SA 781
8 Mark Richardson NZ 775
9 Gary Kirsten SA 763
10 Mahela Jayawardene SL 754
They are ordered based on form, but one thing is clear - the top 4 are clearly in front of everyone else right now. Ponting and Dravid are at their best ever ratings, Hayden and Lara have been over 900. But there is a wealth of batting - Inzamam just led Pakistan to victory despite the efforts of Richardson and three SAs just got tons. No Sachin, Vaughan or Youhana in this list. Indeed you can look down the list to players outside the top 30 who are still class - Hussain, Sehwag, Jayasuriya, Tillekeratne, Ganguly, Atapattu...
1 Muttiah Muralitharan SL 908
2 Shaun Pollock SA 877
3 Shoaib Akhtar PAK 861
4 Glenn McGrath AUS 806
5 Jason Gillespie AUS 748
6 Makhaya Ntini SA 745
7 Daryl Tuffey NZ 721
8 Anil Kumble IND 686
9 Harbhajan Singh IND 662
10 Jacques Kallis SA 642
If you look at the bowling, Murali is out in front of Pollock and Shoaib, and McGrath has dropped of the pace due to injury. But after that there is a big gap. Ntini is rising but most of these bowlers haven't done much for a while and are declining. I'm not sure Tuffey is a world class bowler. McGrath and Pollock have both been over 900 but nobody else has the consistency. Stuart MacGill is 11th and the top 20 still contains Saqlain, Waqar and Cairns. There are alot of bowlers who have played in the last year or so but maybe only one or two games. Perhaps it is the constant changing of players (due to injury or poor performance) which means bowlers don't get as high ratings.
But Ponting is the 15th batsman to be rated over 900 and there have also been 15 bowlers, so that suggests it is possible to achieve. A quick look at the names shows we have recently lost Waqar and Ambrose and maybe Warne and McGrath, though there is still Murali and Pollock. In the batting, Hayden, Lara and Ponting are still very much at large.
So I guess the question is whether cricket is heading in the same direction as baseball - runs is what the fans like to see, so runs is what we'll give them? I mean if you look at test averages, 6 of the top 18 batsmen are current players. That's 1/3rd from over 100 years are playing today. Yet Pollock is the highest bowler, and he is 18th in that list. Next comes McGrath in 29th and then Murali is 45th (Hall is 33rd but I wouldn't say he's played enough yet - just 7 tests). As pointed out, recent years has seen the loss of Ambrose and Donald, and there aren't enough bowlers with an average in the low 20s, compared with batsmen who average 50+. Shoaib is 50th, so if you count Hall there are 5 in the top 50 for bowling, yet there are 14 batsmen (including Lehmann and Waugh).