I agree that it's in the balance - but a reminder that the highest successful chase in the last 60 years at the MCG is 231. The highest not against the 2013 Ashes team that had already gone through about two full XIs at that point is below 200. It's more the eight batters and the fact you guys made 300+ in the first innings that are in your favour300 runs in just over a day,
EDIT: With that four, we're now up to the second highest successful chase of all time at the MCG if India do it