Personally, as another poster has already posted, I think Canada goes with three scoring lines and one checking line. If that's the case, I see it as:
Rick Nash - Joe Thornton - Todd Bertuzzi
Alex Tanguay - Joe Sakic - Jarome Iginla
Brad Richards - Vincent Lecavalier - Mario Lemieux
Ryan Smyth - Keith Primeau - Shane Doan
Simon Gagne
Rob Blake - Chris Pronger
Adam Foote - Robyn Regehr
Scott Niedermayer - Ed Jovanovski
Wade Redden
Martin Brodeur
Roberto Luongo
Marty Turco
By all reports Rick Nash was absolutely dominate during training camp, I think that basically makes him a lock. Thornton would have made the 2002 edition of Team Canada had it not been for injuries, and throwing Bertuzzi in that mix only makes this line bigger, stronger, and even more dominate. If Tanguay repeats or betters his 2003/04 performance, I can't argue he won't make the team. He has great chemistry with Sakic, and Sakic has chemistry between both he and Iginla. Putting Tanger on that line gives Sakic and Iginla a setup man.
Richards and Lecavalier are best friends, and they have shown chemistry. They're young and raising stars, and both have been clutch at certain points in their careers. Putting Mario on that line gives a lot of veteran savvy, and should help the two with their consistency. If Keith Primeau shows signs of his last amazing playoff run, there's no doubt he's in. Draper is a great player, but Primeau was just absolutely dominating the last time he played. Smyth is Canadian through and through, he's got good offensive instincts, and probably the best man in front of the net. Adding Shane Doan gives this line a similar (though less potential for dominance) makeup to the first line.
The D-Pairings and Goaltending situation are pretty much self-explanatory. Putting Foote with Regehr basically ensures a top shutdown defensive pairing. However they can be broken up so that both Nieds and Jovo have a defensive D-man playing on their pairings. Redden can be brought in to replace one of the D-men in they underperform.
As for Yzerman not being here, well, I think he'll step down. He's been a great presence for Team Canada, has always been an amazing player, but I think he lets new talent take his place.