I can agree that numbers are not everything, but I think its not a valid statement to say that they mean absolutely nothing. One platoon of soldiers with the very best possible equipment cannot beat an entire army, and I'm sure most of us realize it.
One category that could be added is influence and that for simple reasons: China, for example, has not engendered sufficient international trust and cooperation to deploy wherever and whenever. Neither has the USA or UK or anyone else, but there are degrees of trust and power of influence that make a tremendous inpact upon how powerful your military is capable of being. Diplomacy still rates.
"It is well that war is so terrible, else we should grow too fond of it."
- General Robert E. Lee
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"It takes a big man to admit when he's wrong. I am NOT a big man." -Chevy Chase