We would never be able to provide a defense of the Falkland's if they ever decided to rattle the sabre again. Our Navy and airforce would not be able to cope with the onslaught. True their airforce is weak but what they lack in capability, they more than make up for in numbers. Don't be so naive as to underestimate their current strengths.
Its true that they have the numbers. This was true in 82 as well but their Air Force has the same problem today as they did in 82 - Argentina is too far away and so their planes can only ever enter Falklands Air Space for a short time. Its why they never achieved air superiority in 82.