Suman with Gilly is ideal as Suman is a natural stroke player with time to play. This is the best because it looks like with Smith being an all rounder and great finisher, Gibbs will find it difficult to fit in.
4 foreign players means Gilly, Vaas, Symonds and Smith have to play.
However, I feel instead of Rao, Bilakhia should play for a couple of matches. Unfortunately, Laxman seems badly out of touch or he could have played instead of Teja.

Vaas, RP, Ojha, Symmo, Smith and Suman / Rohit should make up the bowling lineup.