I would quite like the look of the following side, with a couple of selections to be confirmed :
1. I. Bell
2. M.Prior
3. O.Shah
4. K.Pietersen
5. R.Bopara
6. P.Collingwood
7. A.Flintoff
8. S.Broad / D.Mascarenhas / G.Napier etc
9. G.Swann
10. R.Sidebottom
11. J.Anderson
Alistair Cook I still think has a future in the one-day squad and much will depend on his Essex limited overs form and Ian Bell's potential to score big at the top of the innings. I think Bell is a little more proactive in the shorter form, and his ability to go over the top and exploit the early fielding restrictions gives him the nod, although Denly and Key from Kent are making excellent cases for their selection.
While I'm not totally sold on Shah, he does deserve the chance to show what he can do, and batting at number three he is certainly going to get the chance.
KP, Bopara, Colly and Freddie for me is a very strong middle order with very good players that know how to bat in the closing stages, while KP and Bopara will look to make match telling contributions more frequently.
The number 8 spot is still imo, open to offers. Napier has to prove he can consistenly perform at the level he has shown recently (his opening spell in the FP final was mightily impressive, pace and direction), Broad I would not like to rush but he has impressed in his brief ODI career to date and adds more depth to the batting. Mascarenhas gives an option of pace off the ball and thunderous hitting in the closing stages.
Swann is still the best ODI spinner, just ahead of Monty, while Anderson and Sidebottom complete the attack. A fully fit Simon Jones would certainly find a way into the eleven, although sadly he is out injured again.