Had this question been put forward a few years ago, during the famous record breaking streak of 16 consecutive test wins, there could be little arguement that the Aussies seemed a better team. However with the somewhat weakened bowling attack, due to the absence of Glenn McGrath, one could argue that the superior bowling would give the Windies the edge.
But on the other hand, take a look at the incredible depth of the current Aussie batting line up. You've got Ponting,Hayden, Langer, Symonds, Martyn, Lehmann and Gilchrist, just to name a few, and not forgetting the all-round ability of Andy Bichel.
So while you may have your opinion, it is really too difficult to accurately compare teams from a different era. Therefore I say that, because of the vast differences in modern day cricket to that of an earlier era, the teams are impossible to set them apart.