Not really, it's well over the highest run chase at the MCG of all time. 399 is huge for a second innings chase, and the pitch will start to show something for the spinners. They have the time, but after their first innings, it's unlikely that they'll make it.
I have to say that when Ponting and/or Hussey fails, our middle order is severely weakened. I'm all for keeping Gilly in for his keeping, but when he and Symonds are exposed in pressure situations, we are in trouble. Symonds is fine when the side is looking to declare, but he is not good enough in test cricket, certainly when you put him and Gilchrist together, trying to save an innings, it just isn't good enough.
Drop Symonds is my opinion, we have plenty of decent batsmen in waiting, and the all rounder argument is fruitless because Symonds bowled 3 overs and we still bowled a side with probably the best batting lineup in the world bar our own.
And as for Hogg, not good enough for test cricket either, he proved that in the first innings, other than a few decent late overs, he just doesn't do it. Didn't confuse the batsmen much with his wrong 'uns either, which he tends to do in ODI cricket.
We have suitable batsmen such as Voges, Hodge, Dave Hussey, even Katich to replace Symonds, or Noffke as an all-round option.
As for the spinners, I think that Bryce McGain's form deserves a callup, but we couldn't do much worse than throwing a youngster into the deep end for a crack.