Strauss (captain) Cook Shah KP Collingwood Bell Flintoff Read Tremlett/Broad Panesar Hoggard
That is the team I would like to see. It's not ideal as I feel Cook is better suited to #3 - alternatively Vaughan could open, with Shah dropping out (as we all know the chances of him being picked are very slim).
Personally I feel Vaughan has to prove his batting in county cricket, as on recent form he cannot justify being picked ahead of Collingwood/Bell/Cook (even when considering his skipper credentials). Harmison also needs to be dropped as he is too much of a liability, particularly on tour.