Are the Big Four overrated?

At first glance, it's tempting to say that the winner will come from the four favourites, and that's why they take up around two-thirds of the book. But all have their flaws. Argentina seem rather average without their out-of-form forward line-up, Brazil haven't put on an impressive performance in ages, Spain are classy but aging, and Germany lack teeth.

Yet there is a huge gulf in prices between Spain at 7.9 and Belgium at 23. Is this really merited? What's happened to all the 10-1 and 12-1 shots that are normally available. OK, England have historically been hugely overrated at around 12-1, but is there really no other team with a decent chance outside the Big Four? Effectively you can get 2-1 on the Small Twenty-Eight. They might not be as good, but there are 28 of them!

Thoughts?