South American teams will be some of the most exciting ones to watch in the upcoming World Cup, I think. Firstly because the tournament is in their continent, secondly because there are many teams that are loaded with talent. Leaving the big brothers aside, Uruguay, Chile and Colombia are still very underrated teams in many people's eyes.
Uruguay have one of the best attacking lines in football at the moment with Luis Suarez, Edinson Cavani and Diego Forlan. They have quality players like Cristian Rodriguez, Gaston Ramirez, Alvaro Pereira, Diego Godin, Martin Caceres and Fernando Muslera as well.
Colombia are currently placed 4th in FIFA Rankings. They're not just consisted of Radamel Falcao, actually. Having Jackson Martinez, James Rodriguez, Juan Quintero, Fredy Guarin, Juan Cuadrado, Camilo Zuniga, Cristian Zapata and Pablo Armero as a supporting cast isn't too bad.
And then there's Chile who steadily kept improving over the years. Alexis Sanchez, Arturo Vidal, Marcelo Diaz, Carlos Carmona, Jean Beausejour, Gary Medel, Mauricio Isla and Claudio Bravo will be their main guys.
I share your sentiment about Uruguay, however. I also think they've peaked and are going to be a disappointment in the upcoming World Cup. Colombia look very strong and Chile is the epitome of being a dark horse.