There is no doubt Australia is favoured to win the WC, but this means there is no pressure on other teams as they are not expected to win - as far as most Australians are concerned, the other teams are not fighting for the WC, they are fighting for 2nd place behind Australia. But for Australia, on the other hand, anything other than winning the WC would be considered a let-down to their entire country. There are at least 4 or 5 teams capable of beating Australia on a good day.
What I love about the World Cup is that being the best team means absolutely nothing when it comes to semi-final time - when it's knockout time, everything changes and an upset is only 100 overs away. I think Sri Lanka are beginning to peak.... better watch out.