Question for you, when was the last time the British Armed Forces took on a numerically and technically superior foe all by themselves?
I believe it was 1939, but all the way through the 1930s everyone was saying exactly the same thing about the threat. And look where we ended up then.
The real question is not when the last time the BAF took on a superior foe by themselves, but are they ready to do so in the future? Whilst we may be in bed with the US now, that will not always be the case - when it suites them they will drop us like a hot brick. Barring the behind the scenes AIM-9 stuff, I don't recall the US bending over backwards to help us with the Falklands, or being in any great hurry to stop Republican fund rasing organisations operating on its soil.
We need to be able to stand on our own 2 feet, not stick our head in the sand and hope everything will be fine in the future.