i wouldnt play 4-2-4 but possibly a 4-3-1-2
with
GK

udek
DL:Riise
DR:Carragher (until Babbel is back)
DC:Hyypia and Henchoz
MC:Murphy
MC:Gerrard
MC:Hamman
AM:Cheyrou/Diouf
F: Owen
F:Baros/Heskey
with Cheyrou and Baros i'd play them occasionally as they're younger