Goalkeepers:
I'm of the opinion that David James should be in the squad because of form - however long-term he won't be an option so I'm happy with Carson and Foster in there for constant experience.
Defenders:
I think Phil Neville gets a raw deal personally. Yes he's not the best player in the world but far worse have played worse for England - however since McClaren isn't 'risking' it with relatively new squad members I can see why he's been selected. Perhaps Baines could be involved with the squad to see how he'd get on, but as McClaren seems to want experience at left-back for the start against Israel I can see why younger options haven't been called up yet.
Midfielders:
I'd have Downing in the squad simply because he's a natural left-footed winger - not necessarily starting, but you need a bit of variety. I'm glad that McClaren has finally noticed that Richardson and Jenas waste space (fingers crossed), and hopefully Wright-Philips will finally get it through his thick skull that he needs to actually play football to get in the squad, as he's wasted the last 18 months of his career. Shame that Barton isn't in there, but then again, I suppose he doesn't want to piss off Fat Frank.
Forwards:
Fair do's really, I don't think many would argue. I'll always claim that when Ashton is fit he'll be the ideal partner for Rooney upfront for England, but until then...