Hello Gentlemen. Thanks for your replies.
OK, Christianbothe says the intakes on the Tu-154's wing roots are infact for the aircraft's AC Heat Exchangers and that the fairings you can see behind these intakes are part of the exhaust for the AC packs. This is what I suspected, because most (if not all) North American built airliners have their Environmental Control Systems in the belly of the aircraft, between the wings near the landing gear bays. Different countries build different designs, however, I didn't think these intakes were fuel tank vents.
Both A/c train & Airplay have the round objects along the belly of the TU-154 up in the air. Are they Static Ports? Or are they Radio Altimeter Antennes? Obviously I don't know...and I'm thinking that any confusion over the apearance of these objects could be contributed to the fact that we don't get to see the underside of a Russian built airliner to often.
I've watched thousands of airliners fly over my head while on very short final, and have never spotted these round objects on their bellies. Perhaps they were there, but were painted the same colour as the airliner's belly...however, I doubt it.
Here's a photo of an Airbus A319's belly. I don't see any round objects. But, the pix is blurry and the nosegear is in the way.
Click for large version
Photo © Christian Albrecht