I think both sides of the argument here are exaggerating their side of the Razzaq issue. He's not as drastically inconsistent as Pup Clarke is making out, nor is he as brilliant as the likes of godofcricket are suggesting.
His batting is the main discussion point here, and while Pup Clarke seems to think he has tapered off lately, the opposite is true. Since the start of 2006, he averages 35.46 with the bat from 20 innings - which is quite good for a #6-8 batsman, big hitting or not, and is around 5 runs higher than his career average. He isn't the world-beating genuine allrounder that some of the fans have made out here either though - his bowling has become decidely pedestrian over the last few years, and while his batting has remained strong and he has actually become more consistent, he'd be hard-pushed to justify his selection on batting alone (although, given the fact that Faisal Iqbal and Imran Farhat have both recently played ODIs, I think he'd probably still make the side.)
But don't let the fact that he bats at 7 or 8 these days fool you into thinking his one day batting is on the decline - it's simply the best position for his destructive hitting.