I think australia will win, simply because they're such a good one day side and particularly good at the bits that 20-20 cricket accentuates, ie big score in the first 15 overs and tight bowling at the death (for a odi). England on the other hand have a woeful record for bowling at the death, I can't see us bowling well as it's effectively 'the death' for 20 overs.

Never know though, there's no real reason why we can't win, it's cricket after all and anything can happen, harmison hat trick in the first over, jones and flintoff to score 20 ball 50's, the 20-20 games are even more of a lottery than odi's, just a bit of fun really but good practice for the hard parts of odi's imo.

I know most people on these forums fear change and hate anything new, but i think 20-20 is a better form of game than odi's as it removes the need for them. The whole point of odi's was to get in the 'beginner' crowd to see something short and exciting to get them interested in cricket and then hopefully on to the proper stuff of test cricket. As 20-20 is an even bigger crowd pleaser and much more suitable time-wise for short form cricket it seems the logical way of the future to me.