The question is not about scoring 300, but winning the game. India actually got its best batsmen post 1995 (or better 2000) and still the culture is running. And Pakistan had best bowlers only before 2000. So that was a contest between best bowling vs. average batsmen! I don't think guys like Sehwag, Rohit, Kohli, Yuvaraj, Dhoni, etc, would struggle so much against Wasim & co. (Given today's batting rules, powerplay, etc). Sehwag gave that hint during that period where we had good bilateral tour sharing between us! Same Akther, Wasim were smashed once modern batsmen came in (Even Sachin who faced problems before started gaining confidence once he had the company of good batting unit and he was no more an one man army!) Now please don't attribute this to aging of Wasim & form-loss of Akther. There are various parameters to consider here (as I said we never had batters like Sehwag, Yuvaraj, Kohli or even Rohit in the past! Similarly you don't have bowlers like Wasim, Waquar, Imran or even Akther anymore now!)
Even if you give the bowling friendly conditions our bowlers "now" are intelligent enough to tackle the Pakistani batsmen (of any era) backed with agile fielders (even if the scoreline is 150-200 par)
And also note that the same Pakistani team in the past were almost getting beaten similar to India against stronger teams like Australia, West Indies, South Africa... But now we are doing very well against all these teams compared to past (We recently whitewashed Australia in a T20 series played in Australia!) while Pakistan is struggling! (So you cannot tell that India is not playing against Pakistan today to find out the actual scenario! Though even I think it would have so better and so sweet if India and Pakistan were playing with each other a lot today just for the sake of domination setting aside politics & securities! Actually the pitches in Pakistan are ideally suited for our style of batting and bowling today, much more than in India! It would have been so sweet!)
Basically you are living in the past (while we are at least living in the present!) Anyhow we are not ignoring the past, but definitely we cannot accept that our all time XI will struggle against yours! It will be even contest.
Since this is an arbitrary concept, choosing playing XI from all time, the question also arises "when" these teams will play against each other? If it is today (today's rules & trend), India will definitely have the upper hand. If it is/was played sometime in the past, Pakistan will have the edge! Basically I am trying to tell that Pakistan had a superior team in the past, while India is definitely miles ahead today! And "today" matters the most even if anyone disagree (the only thing is you can hope for a better "tomorrow"!)