I have to disagree sateeh here.
I have seen Milan play against Anderlect - and it is not just the result - their performance was just breath-taking. They may not be scoring goals in Serie A because Serie A teams will not venture against them, but in Europe where teams are more adventurous - Milan's technical class makes all the difference. Kaka gets that extra space in the European stage - and he arguably the best player in the world - and hence he shines whenever there is a little space to create.
Defence is solid with Nesta in a commanding form this year when he is not injured and Jankulovski is truly back to his best and whipping in world-class crosses for attackers to attack. There aren't many full-back parings better than Milan despite Cafu and Jank's age and Nest - Maldini partnership is class personified - if they can play together. Most importantly though, there are so many X-factors in the team. Young Gourcuff oozes with class, and as Arsenal had to rely on unknown to sustain their run in Europe - sometimes teams have to rely on elements that are perhaps not known - and Milan got a jewel in making with their pettite Zizou. Furthermore, Gila's not going to carry on his current abysmal run of form because the man knows where the goal is and he certainly has forgotten how to score in a matter of couple of months. Gilan, IMO, is world-class with his clever litte tricks inside the box, ability to protect the ball, and goal poaching awareness - and we should not underestimate his calibre.
If anythingelse, my biggest concern for Milan is their health. The players are old and one must wonder whether they can keep up with the arduous schedule at the end of season. They strenghten their depth in respect, but Bonera just isnt Cafu whatever way you look at it. But taking into consideration possible X-factor in Gourcuff, Gila, Oliveira (Though He is utter crap for 14m sterling pounds), and their general technical class - I can't see any team better than Milan bar Chelski and Barca.
I think it is unfair to judge Inter based on the past European matches. Their evidently off-form at the time and their really blew the game against Bayern due to some unbelievably bad refereeing decisions. They didnt play well but I dont think Bayern did quite enough to win it. I feel it was one of the events where good teams both cancelling each other out. And they showed plenty of grit to get back into contention by winning both games against Spartack. The midfield has shown plenty of promise (which is normally the weakness in Inter side) and despite my obvious antagonism to their attacking players - they are all world class. I consider them to be a bit more attacking version of us last season - that could make all the differences. Stankovic looks like a good candidate for a balon d`ore IMO. However, I fee their approach is too Italian to do well in CL proper. Lets not forget Liverpool were a minute away from elimination against Olympiakos in a group made up of Depor, Monaco and Olympiakos. You can't judge teams purely based on the performances at group stage - Its all about hitting the form at the right time at right place.
Well, I like Roma's midfield but as mentioned before they havent got enough penetrating players to break quality defence. Last 8 is probably their realistic target and beyond anything bonus.