Given Lee's abysmal form, I'm amazed at Ponting's willingness today to have him 1) bowl his ten overs, and 2) bowl at the death. If the idea was to restore his confidence, you'd hardly think it a good tactic (if anything, beyond his sixth over it just eroded further), and in a game where we were struggling to keep India below 300, you'd think we'd have just been better served bowling Symonds or Williams out (although it's possible that Williams just wasn't feeling well enough to complete his overs). Hell, even Clarke, who bowled four overs for a run-rate of six, as opposed to 8.3 a over for Lee.
That's just bad captaincy, in my opinion. From what I can tell, Ponting's field placings are very good, but his bowling decisions leave a lot to be desired (he often seems to exhibit a very low level of confidence in his slower bowlers).
I don't think Lee is crap though - he's previously demonstrated that he has what it takes to succeed at international level, and none of the Australian bowlers have had what could be described as a "good" summer, bar maybe Williams (and that could have as much to do with limited opportunity than anything else). But he definitely needs a break and some games at state level, because he's sliding fast.
Having said all this, I think Australia can win this game. India probably should have been shooting more for 320-340, given how few wickets they lost. Contrary to what Bapu Rao Swami says, the Aussies aren't too bad at chasing 300, and they chase better than any other team in the world. It's a fair target, but they probably fancy their chances.
