I'm looking at one of the subcontinent teams to take the title. Well, probably not Bangladesh, but India and Sri Lanka are definantly favourites, and you never know what you'll get with Pakistan - except that it can't help be entertaining.
As much as I'd like to see South Africa lose the 'chokers'-tag, they have a new'ish middle order and they lack a serious spinner. Because as much as I love seeing Steyn and Morkel go at it, they'll only cover 20 overs in total and after that it's up to the new guys to show some guts.
England and Australia are both outsiders in with a shot, even if neither of them have had the best pre-tournament preparations (and I can imagine the England players to be sick and tired of touring by now - they've been away since what, October?). England have Graeme Swann which ought to count for something in the subcontinent, and their pacers aren't hald-bad either, while Australia are, well, Australia I suppose.