I would say that this Miami team and this incarnation of Lebron are both much, much better than the team or player that we saw in the 2007 finals against the Spurs.
I am starting to get more optimistic about a Spurs win, though. Wade seems hurt. If Hibbert and West are dominating, so should Duncan and Splitter, even more so. And Indy doesn't have Tony Parker.
On the other side, Lebron has shown repeatedly over the last few years though that he can dominate when it matters though. He's still the best player on the planet by a long shot.