Here goes my opinion : NO. Definitely not Kumble. Definitely not the Kumble who shouted at somebody who fumbled near the boundary ropes. Kumble *is* good with the strategy and there is proof for that. Eg: Using spin against Gily, Using the short ball for Yusuf etc etc. But not all strategists are leaders. Kumble fails in the 'inspire-the-team' part.
What about Sachin? I do respect his game. He is one of the better captains in the IPL. But is he the best? Not when Dhoni, Gily and Warnie are around.
Dhoni - The Mathematician. When he is the captain, there is math in his game. He understands his team and the opponents so well that he has a very detailed plan. Given the players who can work his plan out, Dhoni can beat any team; anywhere; anytime. But can he do the same with a 'not-so-capable' team? I doubt it. Dhoni can lead a pack of lions but not anything less than that. He needs everybody to play the exact roles assigned to them which doesn't always happen.
Gily - The Philosopher. Adam Gilchrist is a man of principles. That means he has fixed ways of handling things. He preffered chasing irrespective of the conditions in IPL 2 and in IPL 3 he prefers batting first irrespective of conditions. He is considerate. You can feel Adam treating younger members of team like his own son. Also he looks into the tiny details that most captains overlook. But are his strategies unquestionable? No. Why do you want to bat first everytime? Gily has to read situations better. May be he can learn from Dhoni. Bottomline, DC is a 'goat leading goats' clan. It is a happy family but not a deadly pack.
Warnie - The Braveheart. Warnie is William Wallace reborn. He is fearless, inspiring and intelligent. Yusuf Pathan, Ravindra Jadeja , Swapnil Asnodkar, Kamran Akmal, Naman Ojha, Siddarth Trivedi and now, Jhunjhunwala. Where does he get all this local talent from? No other team has benefited as much as RR from its inexperienced players. How does Warnie pull it off? It is in how you see your players. You cannot see them as chess pieces (as Dhoni does) and you cannot see them as sons (as Gily does). Warnie does it right. Warnie might not be the great player he once was but he did not forget the art of inspiring. He tells his team: what to do , how to do and more importantly, WHY do. Warnie is the ultimate captain material.
Will Warnie win the IPL? May be not. Rather, most probably not. But mind you, the winning captain is not always the best captain.
P.S: I support the Deccan Chargers. Go Chargers Go Chargers Go Go Go.