Bah :P
It's very hard to answer this question without being biased. I'm British and I know we have a very good army, especially in infantry. Am I being biased? I don't believe so. Our basic infantry training is some of the most demanding in the world and that doesn't even get into what you have to go through to become a Royal Marine and so forth.
TacticalEdge, nothing wrong in being patriotic but you're completely biased although I guess you're not afraid to hide it
Anyway, I don't believe you can say one army is the best these days. It depends on the situation. For example, during the cold war it was interesting to note which divisions of the Nato Alliance made up the bulk of the of the forces that overlooked the Fulda Gap and where the Soviet 3rd Shock Army would swarm over in the event of WW3. They tasked that to the Panzer divisions of the Bundeswehr, who unofficially as I heard from various people where the best units Nato had in that situation, i.e. mobile armoured warfare.
I heard this from some BAOR officers and it was also backed up by a BBC documentary on NATO units in Germany.