Basically, Kobe said the 2012 team could beat the 1992 team. Jordan laughed when told about that.
I think the 2012 team is good enough to give the 1992 a run for their money. To Kobe's point, more of them - or at least more of the key players - are in their primes than the 1992 team. Or in the heart of their prime (23-28?) rather than the tail end (29-31?). LeBron 27, Carmelo 28, Durant 23, Kevin Love 23, Blake Griffin 23, Deron Williams is about to turn 28, Chris Paul is 27. And so on. Kobe is the only player who's over 30.
On the original team, I'd say you had better players but many at the end of their prime or already on the downswing. Barkley 29, Jordan 29, Magic was 32 and had been out of the league for a year, Drexler 30, Bird 35(!) and could barely play for his back pain, Stockton 30, Ewing 30, Malone 29. Only David Robinson and Pippin were in the heart of their primes at 27 and 26. I'm not even counting Laettner.
I'd still take the Dream Team in a best of 7, but on any given day in any given game, the 2012 could win.