What I think:
Arantxa - Yes, she's not in her best form right now. However, she is still the top Spanish player this year.
Angeles - She's had a very consistent season this year, reaching 3rd round at Wimbledon and at Us Open. A very steady player.
Marta - Steady but occasionally spotty player. Has a lot of potential. Team needs new blood in Fed Cup
Mariajo and Anabel - They're one of the top ten doubles teams this year. Need I say more?
It's sad that Conchita is not playing, because I like her most of the spanish players.The spanish team is not so strong without her and Arantxa in one team, but they have enough good other players.I think ASV and Marta Marrero are a good choice.
I think it should be Arantxa and Magui for singles because I think those two have the most experience in fed cup and i think they will have the best chances of winning against higher ranked opponents. For doubles i think Virginia should definitely play because she won the French Open on clay earlier this year, maybe she'll partner with either Magui or Arantxa. And then I think the back up should be Angeles Montolio for singles.
i'd say that in singles, they're likely to stick on magui for singles, along with arantxa of course <IMG SRC="smilies/wink.gif" border="0">. there are a few others who have had good years, but experience wise magui has more than angeles, or cristina, and i think that could be useful. i also think that virginia will be named based on her doubles, and perhaps angeles will be on the squad aswell in case they want her in over magui.