1-Spain
How Spain are not the bookies' favourites is a total mystery. The European Champions have a group of world-class individuals finally working as a team. Their new-found unity and the confidence boost of winning Euro 2008 inspired them to a flawless qualifying campaign, and they have quality in every position. The only question mark is their poor World Cup track record.
2-Brazil
Dealt easily enough with a weakened England side, but question marks remain about the defence, and a midfield where Arsenal cast-off Gilberto Silva still gets a game. The Kaka-inspired attack still strikes fear into every opponent, while the Selecao's peerless World Cup history - and the fact the tournament is outside Europe - mean they are clearly serious contenders.
3-Germany
They might not have the outstanding individuals of yesteryear, but the Germans still know how to win and they are habitually involved at the business end of major tournaments. However, the shocking death of Robert Enke has cast a huge shadow over the squad and their response to the tragedy will be crucial.
4-England
Fabio Capello's side raced to qualification showing a ruthless edge, especially in the two thumping wins against Croatia. Friendly defeats to Spain and Brazil show there is still room for improvement, but for the first time in a generation, England have the players and the manager to go all the way.
5-Italy
The defending champions were efficient rather than spectacular in qualifying, and had an absolute nightmare at the Confederations Cup. Marcello Lippi is under pressure amid a growing clamour to recall Antonio Cassano, but they always tend to pull things together ahead of the big occasions.
6-France
Staggeringly lucky to be there after needing the hand of two separate gods to see off the Republic of Ireland - Raymond Domenech would probably say it was written in the stars. At least Henry's crime showed a win-at-all-costs mentality which France have lacked in recent years. And there's Franck Ribery to return.
7-Portugal
When you have got possibly the best player in the world waiting to come back to your team, you always have a chance. Portugal have struggled terribly under Carlos Queiroz but won both legs of their play-off against Bosnia-Herzegovina without Cristiano Ronaldo, and have plenty of talent.
8-Netherlands
A brilliant qualifying campaign yielded eight wins out of eight for Bert van Marwijk's side. The coach's tactic of leaning on Dutch-based players for the backbone of his squad is paying off, but there is a worrying reliance on the fragile likes of Robin van Persie and Arjen Robben. We just do not fancy them.
9-Ivory Coast
Egypt might be the champions of Africa, but Ivory Coast look the best equipped to mount a serious challenge on their home continent. The devastating Didier Drogba has 41 goals from his 60 caps and is ably supported by the Toure brothers, Arouna Kone and Didier Zokora.
10-USA
Bob Bradley's men never get any respect. The fact their squad now hails mainly from the MLS will not change that, but it might mean their players are fresh in South Africa. They are the only team on this list to beat Spain in the last three years, and continued their regional superiority over Mexico in qualifying.
11-Argentina
Still a shambles - the decisive win against Uruguay does not change that. Diego Maradona still does not know his best team, has failed to get the best out of Lionel Messi and is wildly volatile. Good times could be around the corner, mind, as Maradona has been banned for two months.
How Spain are not the bookies' favourites is a total mystery. The European Champions have a group of world-class individuals finally working as a team. Their new-found unity and the confidence boost of winning Euro 2008 inspired them to a flawless qualifying campaign, and they have quality in every position. The only question mark is their poor World Cup track record.
2-Brazil
Dealt easily enough with a weakened England side, but question marks remain about the defence, and a midfield where Arsenal cast-off Gilberto Silva still gets a game. The Kaka-inspired attack still strikes fear into every opponent, while the Selecao's peerless World Cup history - and the fact the tournament is outside Europe - mean they are clearly serious contenders.
3-Germany
They might not have the outstanding individuals of yesteryear, but the Germans still know how to win and they are habitually involved at the business end of major tournaments. However, the shocking death of Robert Enke has cast a huge shadow over the squad and their response to the tragedy will be crucial.
4-England
Fabio Capello's side raced to qualification showing a ruthless edge, especially in the two thumping wins against Croatia. Friendly defeats to Spain and Brazil show there is still room for improvement, but for the first time in a generation, England have the players and the manager to go all the way.
5-Italy
The defending champions were efficient rather than spectacular in qualifying, and had an absolute nightmare at the Confederations Cup. Marcello Lippi is under pressure amid a growing clamour to recall Antonio Cassano, but they always tend to pull things together ahead of the big occasions.
6-France
Staggeringly lucky to be there after needing the hand of two separate gods to see off the Republic of Ireland - Raymond Domenech would probably say it was written in the stars. At least Henry's crime showed a win-at-all-costs mentality which France have lacked in recent years. And there's Franck Ribery to return.
7-Portugal
When you have got possibly the best player in the world waiting to come back to your team, you always have a chance. Portugal have struggled terribly under Carlos Queiroz but won both legs of their play-off against Bosnia-Herzegovina without Cristiano Ronaldo, and have plenty of talent.
8-Netherlands
A brilliant qualifying campaign yielded eight wins out of eight for Bert van Marwijk's side. The coach's tactic of leaning on Dutch-based players for the backbone of his squad is paying off, but there is a worrying reliance on the fragile likes of Robin van Persie and Arjen Robben. We just do not fancy them.
9-Ivory Coast
Egypt might be the champions of Africa, but Ivory Coast look the best equipped to mount a serious challenge on their home continent. The devastating Didier Drogba has 41 goals from his 60 caps and is ably supported by the Toure brothers, Arouna Kone and Didier Zokora.
10-USA
Bob Bradley's men never get any respect. The fact their squad now hails mainly from the MLS will not change that, but it might mean their players are fresh in South Africa. They are the only team on this list to beat Spain in the last three years, and continued their regional superiority over Mexico in qualifying.
11-Argentina
Still a shambles - the decisive win against Uruguay does not change that. Diego Maradona still does not know his best team, has failed to get the best out of Lionel Messi and is wildly volatile. Good times could be around the corner, mind, as Maradona has been banned for two months.