I'm guessing the Kenyans would take their 4th-, 5th-, and 6th-best steeplers and get them in beer mile training with the possibility of a sweep (in both events). Even with less than a year of drinking experience I can't imagine the East Africans not being on the top of the world rankings. I doubt the current world's best wouldn't be very competitive when medals are on the line. Maybe some Canadians and Americans could sneak into the top 8.
I imagine the first name to come up in the USA team discussion would have to be one A. Webb. Nick Symmonds could probably run around 4:45 with dedicated specific training, but I doubt he'd sacrifice his 800 training for it. Could any non-pros get on the team? What would the standard for the Trials be?