Batting:
South Africa - probably weaker without Smith and Kallis, and might fall from #1 soon, but they are the only side with two proven world-class bats.
India - close to becoming the best, though still unconvinced about their openers in unfriendly conditions.
Australia - still a few possible holes, but with Warner and Smith improving there is quite a bit to like about this lineup.
Sri Lanka - very talented middle-order but openers seem a tad iffy to me.
New Zealand - as dire as their openers are, their middle order is actually quite good.
England - way too unproven to call this accurately. Two high-class bats, and some promising ones.
Pakistan - carried by their old guys, little depth.
West Indies - only truly class bat is old.
Bangladesh - actually have a lot of depth in their batting and their best bats do have some potential.
Zimbabwe - just plain poor, except for Taylor.
Bowling:
Australia - have us ahead of South Africa due to having a proper spinner. Both very, very talented attacks though.
South Africa
Pakistan - now it gets trickier, but their spin stocks are second to none and Junaid is quality. Realistically, 3-7 could alternate on any given day.
West Indies - full strength they're actually quite good - two quality spinners, and a few good pace options. Under-rated here.
New Zealand - only because their spinning stocks are dire. Seam stocks are clearly 3rd though IMO.
India - seam bowling is still iffy. Spinners do their job, but aren't effective away from home.
England - good opening pair, but everything else is ridiculously unproven.
Sri Lanka - improving pace stocks, but they're still bad IMO.
Zimbabwe - actually aren't too bad of an attack. Unfortunately they rarely play.
Bangladesh - I like their spinners, but have clearly the worst pace bowling attack.