I'd probably prefer to see Noffke for the 4th seamers spot, provided we're gonna run with Hogg as our spinner. Our lineup could be:
Hayden
Jaques
Ponting
Hussey
Clarke
Gilchrist
Noffke
Hogg
Lee
Clark
Johnson
Very defensive move. The Indians will rightly think that the Aussies are worried about their ability to bowl them out which, even given the fact they're spanking the Pakistani's around, is a bit hysterical. It smacks of damage control and assuming that the Indians will belt the others. Plus you have the issue of whether Noffke is a Test number 7. He's only been batting really well for QLD for half a season! Throwing him in as a bowling all-rounder for his first Test is crazy, especially since we haven't seen a decent score from Gillie for some time and batting him at 6 is very risky.
Also, I think people have a tendency to over-rate the Indian batting line-up. Only Sachin has had consistent form this past year and one innings from Laxman means little because it could all just fall in a heap with a couple of cheap dismissals. He and Dravid came here last time with a bucket of runs behind them before even setting foot on Australian soil. This time, they don't quite have the same form. Same with Ganguly. I honestly expect the Indian batting to struggle overall.
Pick a spinner
or a fourth pacer, not both I reckon. I'm not sure whether Hogg is the man but if I were to go for a fourth pace option, I'd go for Tait. Noffke offers very similar things to Johnston, Clarke and Lee (outside off-stump, swinging away, etc.) and despite his good batting form, for variation I would reckon a really devastating option like Tait is the go. To me, it's a more aggressive option which is what would be needed to capitalise on any tentativeness by the Indians and, to be honest, I would think there will be a bit. Hit them hard first I reckon.
As for what the Aussie selectors will do, I'd say the only spot up for grabs it eh fourth bowler because they'll be loath to change a winning combination. Even that there's been no clear position in the press on Hogg as yet, I reckon he'll get the nod because I would doubt they'd be wanting 20+ overs from Symonds/Clarke on top of their batting duties. The selectors haven't picked four pace bowlers in a side since 1990 and it didn't work very well then.