Thalivest, I think that Federer in form would have trouble with Davydenko as well. Davydenko is in very good form (beating Nadal and Roddick) and had a good run of 11 matches undefeated. On clay Davydenko can make it even tougher for Federer, and I think you are a little overestimating the normal federer to this one. I mean, the normal federer doesn't play each match like the one against Roddick at AO 2007 or something. When Fed wins matches in ugly fashion we usually say 'that's what makes him the best'. Now all of a sudden every match he plays is the worst he's played in years and I think that's really overreacting. Federer for me is still amongst the top 3 players in the world, even on this form, and will defenitely be someone to keep an eye on in the clay season. But whether he's back, I don't know, time will tell.
I am afraid I have to disagree with you on all of that. Federer didnt even play well vs Davydenko at the French and U.S Opens last year and still won both in straight sets although Davydenko should have done better in that French Open match. The only surface Davydenko would have a hope vs normal Federer might be clay, but even then still likely lose. On hard courts he would have no chance at all vs normal Federer. Whether or when Federer starts playing like something that resembles his old self remains to be seen though.
Beating Roddick and Nadal on hard courts is nothing unbelievable for Davydenko either. It was only his 2nd meeting vs Roddick since he became a real player, and only his 2nd meeting ever vs Nadal on hard court. His only previous meeting with Roddick since he became a top 5 players two and a half years ago, and only previous meeting with Nadal on non-clay surface, were both tough 3 sets losses. Also his 3 set loss to Nadal he was visibly tired from overplaying to end the 2006 season, and lost a set and break lead both vs Nadal and Blake in consecutive round robin matches that event. His 3 set loss to Roddick ws after being in a horrible run of form himself while the gambling allegations were going on late last year. So his beating both on hard courts does not show he is suddenly at a new level, as it something that was very easy to imagine happening anyway anytime these last 2 and a half years. Nadal's worst surface by far is hard courts, he is nowhere near as strong as an in-form Federer or Djokovic on them, so he is definitely beatable to someone like Davydenko on them. Roddick has been ranked below Davydenko awhile now and Davydenko has been atleast equally as good a player as Roddick for awhile now.
Lastly Federer in his current form is not a top 3 player. In his "current" form Nadal and Djokovic are far better players, Davydenko is overall probably better, and someone like Roddick is even about equal. People are saying the tennis he is playing now is the worst he has played in many years, and is light years below his normal level since it is. One has to be blind to WATCH his tennis at the moment and not see it, whether you are a fan, a bigtime hater, a neutral, whomever. Triple or quadruple errors sometimes vs even nobodies in early rounds, easy shanks, sluggish movement, off timing, lack of focus.