PN,
BBC Radio 4, as expected, ran a few segments on it. The concensus was that they don't have anything like the capability even to try. Not a single new aircraft since 1982, defence spending slashed (I mean slashed so much that it makes the UK look like a superpower) and only enough money to pay the wages of those servicemen that are left.
One commentator noted that they couldn't even fight Paraguay, let alone the UK. There were also one or two that said they are even losing some support for their diplomatic campaign to gain the Islands.
If the Today Programme is to be believed (which it must be!) the potential aggressor is looking pretty feeble.