Holland are currently the world champions, according to the highly interesting Unofficial Football World Championships.
I don't think they will underestimate their opponents, but I also don't think people are generally expecting a great deal from them even though they're going into the World Cup on a great run of form and with some fantastic players. You can get 11/1 on them winning the trophy which, although it's unlikely, are decent odds.
Also, I'm going to be in Amsterdam for their final group game against Cameroon. Should be brilliant!