Right now, in 2010, you have to pick Tendulkar. He is currently in the best form of his life. Had you asked this question at the end of 2006, I would have said, right now, in 2006, you have to pick Ponting.
Tendulkar is over-rated. 2010 is the year of Tendulkar, no doubt about it, 2003 was the year of Ponting. But to paint Tendulkar as a better batsman than Ponting 4 years ago, would have been rediculous. For the period 2002 - 2006, Ponting averaged 72.25 (Tendulkar 48.78 ). Ponting's career test average at the end of 2006 was 59.38 vs Tendulkar's 54.87.
Tendulkar's test career average is currently the highest out of the current great batsmen;
Tendulkar 56.96 (14240 runs)
Sangakkara 56.85 (8016)
Kallis 55.07 (11126)
Ponting 54.68 (12250)
Jayawardene 54.06 (9408 )
Samaraweera 53.72 (4244)
Sehwag 53.37 (7152)
Dravid 52.73 (11602)
But as you can see, he is not light years ahead. I think Tendulkar is amazing for his current form, longevitiy, his love for the game (and attitude towards it). He is an icon adored by billions, but is he clearly the greatest modern era batsman ... I don't think so. On test career stats, I would rather have had Kallis (+266wickets) in my team.
as of Oct 10th