Judging by recent England sides, if the current selectors were picking from the mid-90s England squad the side would probably be something more likeThey did. They also had terrible coaches and a woeful domestic structure.
I take your point because you could have had a 90s team of:
Atherton
Stewart
Hussain
Hick
Ramprakash
Thorpe
Russell
Gough
Caddick
Fraser
Spinner (probably Tufnell)
And on paper that's not too bad. Transpose that side into the mid 00s era with proper workload management, central contracts and better coaches and support staff and I reckon that would have been the nucleus of a pretty decent side. Not a great side, not an all conquering side, but a side that should have been able to hold their own against most if not all sides in the world and who could certainly have won more than they lost.
Atherton
Stewart+
Hussain
Smith
Thorpe
Ramprakash
Hick
Lewis/White
Cork
Gough
Fraser
with Hick as the spinner who could bat a bit.