Here is who I would pick as of right now for Team Canada:
C:
Sakic
Thornton
Lecavalier
Richards
LW:
Lemieux
Gagne
Smyth
Draper
RW:
Iginla
Heatley
Bertuzzi
St.Louis
Doan
D:
Pronger
Blake
Niedermayer
Foote
Redden
Jovanovski
McCabe
G:
Brodeur
Luongo
Theodore
I make these picks for the following reasons:
At forward, you have to have some experienced players (Lemieux), some physical players (Smyth, and Doan), some wingers (Smyth, Doan, Bertuzzi, and St.Louis), and some defensive conscience (Draper). You can't have a team full of young guys, nor can you have a team full of finesse guys, nor can you have a team full of centres, nor can you have a team full of pure offensive players. A team full of Crosby's, Spezza's, and Staal's don't give you nearly the same chances of winning that my team does. Any team that has more than one of Crosby, Spezza, or Staal on it starts to suffer in my opinion.
The defense also has a nice blend of two-way players, guys who are very good at both ends of the ice, which I feel is important to a defensive core. Pronger, Niedermayer, Blake, and Redden are all superb at both ends of the ice. Then you have specialists such as Foote (defense), McCabe (offense), and Jovanovski (physicality) rounding out the defense core.
As for the goaltenders, all three guys are capable of stepping in should need be. A wealth of talent, experience, and clutch ability provided by these three goaltenders.