It is an argument that could go on for hours, but it is one that is well worth having because there is no doubt hoisting the Asian Cup aloft would rate very highly.
But just how highly? Would it compete with our greatest World Cup achievements, or will they always be at a level above becoming the number one nation in Asia?
The World Game has revisited the fascinating history of the Socceroos, with all of its great ups and downs, to remind us of the proudest moments:
QUALIFYING FOR OUR FIRST WORLD CUP FINALS IN 1974
A Socceroos squad of part-timers, including such legendary names in Australian football as Johnny Warren, Peter Wilson, Manfred Schaefer, Col Curran and Ray Richards, and coached by Rale Rasic, finally got us there.
Those were the days when there were still only 16 teams in the finals, as well. We didn't win a game or score a goal - a 0-0 draw with Chile was our best result - but you've got to crawl before you can walk and we certainly weren't embarrassed.
Just getting there was everything.
ENDING A 32-YEAR WORLD CUP DROUGHT BY QUALIFYING AGAIN IN 2006
Who among those at the ground or watching on television will ever forget that magnificent moment in November, 2005, when John Aloisi slotted the ball away to win a penalty shoot-out against Uruguay and take the Socceroos to the World Cup finals again after such a long absence?
It was the kick-start that Australia's modern era of football - both at international and domestic competition level - needed. The "Golden Generation" team had taken shape and great times were to follow for our national team.
BEATING JAPAN 3-1 IN THE OPENING MATCH OF THE 2006 WORLD CUP FINALS
The Socceroos trailed 1-0 late in the game against Japan, but then Tim Cahill exploded with two goals and John Aloisi scored another and all of a sudden it was a 3-1 win to us.
The match marked the first goal by Australia at a World Cup finals and also its first win - and it launched an exciting finals campaign.
QUALIFYING FOR THE KNOCKOUT STAGE OF THE 2006 WORLD CUP FINALS
After beating Japan, but then losing 2-0 to Brazil, Australia needed something out of its final group-stage game to advance to the round of 16. It got it with a 2-2 draw against Croatia.
In the knockout stage it faced Italy, but lost 1-0 after Lucas Neill was penalised deep into added time. Italy then went all the way to the final and won it.
QUALIFYING FOR BACK-TO-BACK WORLD CUP FINALS FOR THE FIRST TIME, IN 2010
This was how we hoped it would be and how we reasonably expected it to be if Australia was living up to its football promise - making the World Cup finals regularly.
Australia had a bad start to its finals campaign, losing 4-0 to Germany, but recovered to draw 1-1 with Ghana and beat Serbia 2-1 to record our second win in a World Cup finals game.
Unfortunately, the heavy loss to the Germans meant Australia missed out on qualifying for the next round because its goal difference wasn't good enough to edge it past Ghana, which also finished on four points and was second in the group.
QUALIFYING FOR THE WORLD CUP FINALS AGAIN IN 2014
The Socceroos didn't win a game or even get a draw, but were more competitive than many thought was possible in a heavyweight group that included Netherlands, Spain and Chile.
It was the start of the recovery that now sees the Socceroos in the AFC Asian Cup final.
Other notable Socceroos achievements include:
BEATING ARGENTINA 4-1 IN THE AUSTRALIAN BICENTENNIAL GOLD CUP IN 1988
Giving Argentina a pasting under any circumstances has got to be seen as a triumph.
MAKING THE FINAL OF THE CONFEDERATIONS CUP IN 1997
The Socceroos lost 6-0 to Brazil, but a reality check never hurts if you learn from it.
FINISHING THIRD IN THE 2001 CONFEDERATIONS CUP
We beat Brazil this time - 1-0 in the third-place playoff.
BEATING ENGLAND 3-1 IN LONDON IN 2003
It was a so-called friendly match, but is there ever really a friendly rivalry between Australia and England? Anyway, we'll take it.
MAKING THE 2011 AFC ASIAN CUP FINAL
The Socceroos lost 1-0 to Japan in extra-time in Qatar, but the campaign provided proof that we were a powerhouse in Asia. Now, Australia has the chance to go one better.
WINNING THE OFC NATIONS CUP FOUR TIMES
The Socceroos competed in the event formerly known as the Oceania Cup regularly up until 2004. New Zealand was our only major opposition of note, but you can only beat what is in front of you.
Australia contested the event six times and won it on four of those occasions. It lost the final to New Zealand each of the other two times.
My opinion is that qualifying in 1974 and 2006 and that finals campaign in Germany couldn't be matched by winning the AFC Asian Cup final but that it would be pushing pretty hard up the list after that.
What do you think?
