Yep, it's England's to loose, but Australia has made a decent start and they do have batsmen of a high enough calibre to put the requireed score together. Only Hussey & Watson haven't registered test centuries against England in this series (but Watson's certainly on form with the bat, only failing toscore a 50 once in 4 innings).
A lot will fall on Pontings shoulders. he has to hit a very big score, otherwise he will go down in history as loosing the ashes twice in sucession in Engalnd. A makor blemish in an otherwise fantastic career.
As I said, they've got the calibre to hit the requirec score. They've also got plenty of time in which to do it.
Another interesting day's cricket coming up.