Indian lineup for me:
Jaffar
Yuvraj
Dravid
Tendulkar
Ganguly
Laxman
Dhoni
Kumble
Zaheer
RP Singh
Ishant Sharma
Yes, Yuvraj should open. He is hungry to play test cricket and will definitely get runs. Everyone in the above lineup deserves their place. I can't find a place for Sehwag.
Jaffar: Is in great touch. Can't be dropped now.
Yuvraj: Impossible to keep him out given his performances this year.
Dravid: No other replacement for this guy, India needs him.
Tendulkar: No need to speak (write) about him. + He is in sublime touch.
Ganguly: Loads of runs this year. Determined to succeed. His medium pace can come handy.
Laxman: Good record against Australia, is in good touch.
Dhoni: Wicket Keeper, can bat pretty well, Vice Captain, brings in an X-Factor.
Kumble: Captain, best spinner India has, can bat a bit.
RP Singh: Vastly improved bowler. Deserves a chance.
Ishant Sharma: Tall, gets good bounce, pretty good pace.
Why others miss out:
Sehwag: Not in good form. Too risky to play him as an opener. Can't accommodate in the middle order.
Karthik: Lacks confidence and form.
Pathan: Hasn't found his old swing, won't be able to trouble great batsmen in tests.
Harbhajan: Can't play two spinners in Australia. No place for him.
Plan B: Play Sehwag instead of Jaffar. Dravid will open instead of Yuvraj and Yuvraj will play in the middle order.