I think
France could have what it takes to win it. They've got some very classy players in midfield and a talented CB pairing (don't think Sakho is the best to partner Varane though). Moreover, they've got what all great sides should have; a very good goalkeeper and a in-form striker. They've got bite, stamina and physique paired with speed, creativity and technique. Of course they had a very easy game against Honduras, especially after the red card, but they also impressed me during a friendly against Holland which they won 3-0 and I think they will at least get to the semis.
Germany has probably got the best squad of the tournament in terms of quality. Before the Pepe's red card against Portugal they weren't that impressive though and would've trailed by a goal if it wasn't for Portugal's lack of a quality striker. Even more so than Italy, Germany always gets to the advanced stages of an EC or WC and are always a force to be reckoned with.
Brazil has really been disappointing thus far but the pressure on them is just unbelievable. Everything other than winning the cup is failure, as simple as that. We've already seen a few cracks and if they're paired up with a good side in the next round they might just crumble. Scolari should have brought different strikers with him though. Fred or Jo (who not to long ago was city's 914154th striker) are just not good enough. They wouldn't even get in the squad of all other sides I mention in this post. The lack of punch up front coupled with too little bite and physique in the middle of the park will hurt them against another top side.
Argentina has, like France, got a very easy draw for the group stages and will no doubt progress. They've got the best strike-force of all contenders but their manager seems to be too cautious in terms of tactics. However, their squad is slightly unbalanced in terms of quality, certainly when you compare their offense and defense. They've also got Messi.. Messi scored a great goal in their first game even though he played badly, there's no telling if Messi could find his form of old. It would be absolutely madness if Argentina won the WC in Brazil. All hell will break loose.
Italy is just Italy and can always win it. Their mentality is what sets them apart as well as their intelligent tactics. Coupled with like I said a great goalkeeper and a lethal striker
Holland have to top their group if we want to get to the QFs because I just don't see us beating Brazil who will be out for revenge (QF WC 2010). Our strike-force is of course immense with the likes of RVP and Robben but the rest of the squad just lacks quality. Playing more defenders doesn't make you defensively more solid as we've seen against the Aussies and I really do fear for Monday's match against Chile, especially now RVP is out suspended.
Chile hasn't got Holland's strike-force but you could argue that their squad is more balanced. Their fighting spirit and impeccable organisation is what sets them apart atm and like Simeone's Atleti they could just surprise us all. They could just well be the side that knocks Brazil out of the cup if they end up 2nd in the group.
Uruguay has been another disappointment thus far but if Suarez's gets in shape again and they beat England tonight I think they could still surprise. They are comparable with Chile but have got more quality up front. Seeing how they played against Costa Rica though, it wouldn't surprise me if even England managed to beat them.