I'd go with:
Hayden
Sehwag
Gambhir
Jaya (*)
Shiv
Hussey
Sanga (+)
Vettori
Mendis
Steyn
Zaheer
Ponting, Tendulkar, Smith, KP all narrowly miss on the batting spots. No allrounder, Freddie came close. Lee didn't make the bowling based on current form, and Murali, Anderson, Sidebottom and Clark will be the reserves. Dhoni the reserve keeper.
A slightly dubious side. Gambhir at 3 is a risk, but I think he can handle it. Hayden not in the best of form, but he's coming back. Sanga has to do keeping duties, but he isn't bad at it. And only two seamers in Zaheer and Steyn, and just 4 proper bowlers with Viru and possbly Hussey needing to turn their arm over. I figure Mendis could bowl on mostly any surface with his style, but picking him over Murali or another quick may be a risk. Vettori almost gave me the option to play another bowler, maybe I could drop one of Gambhir/Hayden and get Freddie in to balance things out. But overall, on current form, I think this is a good side. Tried to exclude some oldies as they are getting on the years and their performances have been a bit inconsistent. Players like Yousuf, Dravid, Dada, Laxman, Kallis, etc. Would have like to get some 'newer' players like Amla, Bell, Sidebottom, Ishant, etc. in, but they couldn't quite make it yet.