I agree that both Spain (mostly Spain) and England have good players, but I have doubts about how will Spain perform in the World Cup, I mean, they always get there but they come out quickly.
England's problem, in my opinion is the coach, I don't think that Eriksson is able to "control" the English players and without control there's nothing.
About Holland, I know that there's "revolution" on the team, but look at their qualification it was (if not mistaken) one of the best in the European Zone, plus they have Makaay and Van Nistelrooy.
Germany plays at home, they have a reasonable team and they are eager to do well, although now that I think more deeply in it I don't think Klinsmann to be a great coach and if Germany succeeds in the World Cup it will mostly because they play at home.