Although this thread is not about who's the #1 or 2 or 3, but since people are raising their opinions on the issue, here are my 5 cents worth:-
Most teams these days (barring SA) are performing in patches. They're good at times, and poor again.
England has been no exception. It won in OZ, India. Won most matches at home, until SA came. But they've also lost to W.I, got slaughtered by Pakistan in UAE, and the latest debacle on offer is the current series in NZ.
India may be #2 officially after this series, but if you ask me, I do not rate them above England tbh. They've lost to England & OZ away, then again to England at home. They've won against NZ & then whitewashed OZ. Good stuff but still cannot beat England's record for me, which won in India, which is like India winning in England, very very difficult. They've narrowed the gap no doubt, but there's still some sunshine in between for me.
Pakistan is a force to reckon with in the UAE, but outside that, I am worried for them. They've won handsomely in the UAE, but lost to SL in SL & again were demolished by SA in SA. So they need to get a lot of things in order to climb into the top 3.
OZ have been rubbish.
NZ have shown a lot of improvement, but still not good enough to be in the top bracket.
WI are also like NZ. Great at times, and then back to being mediocre.
BD, the less we speak, the better.
So this practically leaves England as the #2 team for me. Or let's say #3 which shall please a lot of my Indian friends.
