I think the English team could create some good attacks with a formation similar to Real Madrids. They certainly have the players to do it;
Beckham is strong both on the right wing (crosses) and thru the centre (through-balls). Scholes is excellent at hovering outside the 18 yard box and cracking long drives. Joe Cole can run with the ball, beat opponents then play a killer pass. Gerrard is a great ball winner and his long passes are very accurate and Lampard can find just about anyone with a long-ball, and shoot from distance.
These are the same qualities as Real Madrid.. you could almost compare their players this way, like;
Beckham-Beckham
Lampard-Figo
JCole-Zidane
Scholes-Raul
Owen-Ronaldo
I think playing in a way similar to Real Madrid would bring alot more goals and make their games exciting to watch. Of course England's defence is much better than Real Madrid's, so they would also concede less than Real does (1-2 goals per game) meaning scorelines like 4-1 and 3-0 would be possible even against the bigger teams.