Ok, we'll give this kind of vote another try.
It's a difficult choice.
Pakistan: mostly obsolete fighters, they are giving it a good try and have a large air force, but the technology is just too dated.
Iran: struggling hard to be independent, and to keep US and Russian equipment flying, but really not in a similar league to most of the others here.
Russia: large, some good stuff, but most in need of upgrades, however training is the biggest problem. Good strategic capabilities though.
UK: modern, well trained, good tactical abilities, high interoperability with other NATO countries, but lacking in some of the essentials though, such as heavy transport and still a fighter gap until the Typhoon has fully evolved. If you count the Army as well, big helicopter transport gap emerging.
Israel: doing good on every aspect I think, with the exception of out-of-area operations and deployments for international missions.
China: large, really large, J-10, J-11, Su-30s are looking good, but the majority of the fleet is still largely outdated, but they are moving fast. Dunno about training, but with all the new chinese trainers it's not hard to imagine that it can use some better equipment. The problem I have with China is that it is an airforce in the classic sense, and therefore cannot compared to some of these others. Another pluspoint is the development of AWACS platforms.
Japan: same case as Israel almost, also almost entirely geared to self-defence. Some improvement can be seen.
India: doing good on development, but bad at keeping time schedules. Until all orders and requirements are fulfilled, the majority of the fleet still exists of old MiG-21s, MiG-23s and others requiring updates. Training has been the biggest problem for the IAF in recent years, and they are still waiting for proper AWACS.
Peru: this is at the bottom at my vote, old Su-22/25s, couple of good Mirage 2000s and a handful of MiG-29s with maintenance problems, serious lack of money for everything, especially flight hours are low. Looking only and types and numbers it might seem a potent air force in south america, but I think it's not any better if not worse than the other bigger Latin countries.