I dont think England have done too badly - I dont think they can win mind you, but that's because I "know" the aussie mentality, whichis what has made them such a good side and always makes Aussies a danger.
I played cricket for a year in Aus and their attitude is to "battle" every time. One other key to their perpetuating succes is sheer numbers: get these numbers:
Population of "city" I lived in was 22,000.
There were five, yes FIVE cricket leagues each of 11 teams - yes, 55 senior (adult) teams in a town fo 22,000 (although add a few K more as it did include some of the nearby homesteads and villages {nearby being an Aussie nearby btw - not a UK one, we used to travel 100-150km for match on a regular basis, just the northern area of NSW we lived in was something like 3 times the size of the UK!})
We played Wednesday evening (20 overs) and then every other weekend a 2/12 day match (friday evening to sunday) and every other weekend inbetween either 2 1 day games or a 2 day game.
Now bear in mind that at the same time there would be the 3 Rugby league leagues, the 2 union leagues, the soccer league, crown green bowling, athletics teams, swimming teams, golf (etc etc etc) - you get the picture.
Now think of a an England town of 22,000 and you'd be lucky to scrape together a single cricket team (maybe a few pub teams, but the "First division" teams in those leagues were esentially just under State (NSW etc) level, so the standard down to the thirds was about the same as "county town" cricket in the UK (Say minor league stuff, Shrewsbury for example would be about 2nd league class)
They love to play and they love to play to win even more.
Where England have always let themselves down in the past was what i called "the footbal curse" - prima-dona attitudes but no underlying "grit" to battle through the tough bits (Henman anyone?) - there should always be one guy in the team who can put together a decent innings no matter what, and another guy who can just stay there on defence whilst he does it - only pieterson came close to putting together an innings and he's a SAfer!
Now, this team "Might" be better than anything we've had for years - but I will be very dissapointed, but not surprised, if we see England just wilt under the Aussie bowling onslaught 300 was always going to be tough to get, many more runs andit will be just too hard for them - the aussies just dont have it in them to "give up" and the tougher the challenge the more "up for it" they get.
Still, a good and highly unusual game - foruth innings likely to be opening on the third day - thats a lot of cricket and if nothing else it lived up to the pre-game hype for excitement... still, i WANT England to win, otherwise I cna see them wilting throughout the series.