RE: Europeans you should verify "western Europeans", eastern europeans dominate the junior worlds timetrial, and Germany, courtesy of their eastern sporting school system, still dominate seniors.

See: Ullrich Kloeden Rich Voigt Peschel Liese Lang Fothern Bartko Steinhauser Pollack.

Steinhauser was dropped early in the tour ttt in the 2005 tour, but he has some very impressive tt results.

Compare those riders to

LA Hamilton DZ Julich Leipheimer Hincapie Landis Horner Farrar Danielson Vandevelde Baldwin Rodriguez

Rodriguez has actually had some performances in the shorter tts

I think it would be a very good TTT over 90 kilometres. Certainly the two best nations in the world.
Spain probably would round out a podium with Australia close, and Belgium and Italy, through sheer strength, not specific tt skills.