Australia are still the best team in the world in my opinion and England have a good way to go to reach the levels Australia have in the last decade.
England aren't as good as Australia were in the last decade, BUT, Australia aren't as good as they were in the last decade either.
But England (if they win/draw at the Oval), will be better NOW, and thats what counts.
I mean you couldn't loose 3-1 to a team ...then claim you are better..that would be lunacy.