England are going to boss it 3-1 :) just wait xD
Altaria, Carrick wouldn't start for England and that's coming from a Manchester United fan xD Lampard would also not play wide left. It would be Lampard in Carrick's position and James Milner or Joe Cole on the right. King is also likely injured for the rest of the tournament. Capello could pick Carragher, but if he does, we lose. He
should pick Dawson, but if he doesn't pick Carragher, it'll be Upson.
As for Spain, I think they just kept playing Torres in the group stages to gain him some match fitness. I actually think he's a bit more unlikely to start in the next game, unless he's been showing more in training. Spain would definitely not play an Iniesta, Xavi, Fabregas, Alonso diamond IMO unless someone was injured. Busquets gets the nod as the holding player, with Alonso picking the passes. I think there's only room in the side for Fabregas if Torres or Villa don't start, as Fabregas would play a more advanced role off of the striker in a 451/433 formation. But even then, Spain somewhat lack someone who's adept at playing wide right so they'd have to stick Xavi there.
I think Tévez would start more games than Milito.
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Edit: Apparently England are playing the same team as against Slovenia:
James
Johnson Terry Upson A.Cole
Barry
Milner Lampard Gerrard
Defoe Rooney
I still would have preferred Aaron Lennon on the right, no Defoe, Gerrard off Rooney, Milner on the left and Lampard & Barry deeper. I feel England lacks the ability to counter attack properly without a pacey winger like Lennon. Hopefully we'll see this through substitutions in the game, though.