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I know it’s popular to run down the British military capability, but the Royal Navy could still match the combat strength of any Navy except the US Navy - and as it’s unlikely it will need to match the combat strength of the US Navy in the near future, that is probably sufficient for most purposes.

It's not the number of ships, but what the nation can actually do with them.

The RN can wage an effective nuclear deterrence (Vanguard-class SSBNs). They can engage in effective anti-submarine actions. They can do maritime protection/escort and anti-shipping ops.

What they can't really do at the moment is effective power-projection and any sort of operation that requires carrier-based fixed-wing airpower (such as providing organic aircover and support for those brand spanking new amphibs they have).

Ironic, therefore, that the first new military op they engage in (Libya) after giving up their carrier airpower is of exactly the sort that HIGHLIGHTS their self-imposed deficiency.

If the Argentinians both wanted (they do) and had the capability (which they really don't at this point) to retake the Falklands the Brits could simply not stage the kind of operation they did with Corporate in 1982. Hopefully memories of HMSes Prince of Wales and Repulse in 1942 are still fresh enough that they wouldn't try.

What they can't really do at the moment is effective power-projection and any sort of operation that requires carrier-based fixed-wing airpower (such as providing organic aircover and support for those brand spanking new amphibs they have).

True - but very few countries can do that - and the ones that really can are British allies. And while Britain can't, right at this moment, that should be a reasonably short term state of affairs. It is certainly not an ideal situation to be without proper carrier aviation for any period of time but unless Britain goes to war against the US or France, the lack isn't critical from a defensive point of view.

In terms of the Falklands, the changes made to the defences of those islands since 1982 mean there should never be any need for that type of operation again - they are guarded by a lot more than a company of Royal Marines nowadays and there are runways that allow for reinforcement if necessary.