Good and interesting question.
Better than the Galacticos from 2003 to 2006? Yes, no doubt.
Better than the Galacticos from 2000 - 2003? I'm actually not sure. Zidane, Raul, Makelele, Figo, Ronaldo and co gave us Champions League and La Liga twice each in that periode.
La Liga is far away being poor this season. Its still even with many great teams and good football...but Real Madrid have been extreamly when it comes to take points this season. They're winning on good, bad and avarage days. But its still 'just' three defeats down to Barca.
Yes, much more even last season in the top, but the fall of Valencia and Sevillas unstability this season have made a small gap.
But IMO todays Real Madrid is one of the best squads they have had in their history. They have good covers in all positions and can play two good teams. They have a giant team spirit and things work out well under Schuster. They have a good lineup with a good backup team.
Casillas
Ramos - Pepe - Cannavaro - Marcelo
Robinho - Diarra - Sneijder - Robben
Van Nistelrooy - Raul
and
Dudek
Salgado - Heinze - Metzelder - Drenthe
Gago - J.M Guti - Baptista
Higuain
Saviola - Soldado
And Schuster is playing offensive football while the defence is better than Capellos 'defensive style' so things looks very great right now, but they haven't won anything yet.
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