Going by the reactions of fans, Indians in general and media "analyst" we lost the world cup badly.
This line of thought of course assumes that we were quite close to winning (if we had not already won) the world cup. But both the losses - one against Bangladesh and other against Sri-lanka quite convincingly proved that we weren't even serious contenders for the cup.
Yeah!! I know expert analysis suggests that we had a balanced team - balance between star and starters, batsman & bowlers, in form and out form players etc. etc. But where is/was the teamwork something that enabled a very moderate Indian team in 1983 to win the cup - yes the world cup.
Lets concede it - cutting through the media hype, through the advertising hype and through the cricket administration's own hype - we were beaten by better TEAMS - yeah !! they are far better teams because they play to win the match - not to secure their seats in the next squad.
So that is the story of Cricket World Cup - 2007. India did not lose it. They (sorry we) never played to win it. Do read this excellent piece by Vikas in the Times of India.
Where do we go from here??
Depends who "we" are. For the sake of Indian cricket - I pray that Indian cricket fans actually get (though irrationally) over with this religious fascination with cricket. That will make lesser money to flow in the game. This I believe is the antidote cricket in India requires - less money. Its almost like an over enthusistic doctor prescribes an overdose of antibiotics to a patient. A more patient doctor offers the patient no treatment at all for some time to balance it over.