Joe Hart picks himself and judging by what I've seen lately, I think Foster should go as his understudy (also Woy will know his capabilities from working with him at West Brom). I think third choice keeper position is up for grabs - could well end up being either Ruddy or Fraser Forster (currently on loan at Celtic).
Defence - I would leave John Terry and Rio Ferdinand at home...but too controversial for any new England manager and won't happen. First choice for me would probably be: Walker - Cahill/Jags (depending on Cahill's injury) - Lescott - Baines/Cole (depending on Baines's injury). The likes of Chris Smalling, Phil Jones, Kieran Gibbs, Carl Jenkinson should also make the preliminary squad.
Midfield - Get rid of Lampard, Gerrard, Beckham, etc. Scholes should be asked to come out of retirement though. Oxlade-Chamberlain should feature in the squad (although Arsene hasn't used him much) for the experience. I do think that Gareth Barry should retain his place, but only as Parker's deputy.
Forward - Wellbeck and Sturridge should be in and around the sqaud. Rooney obviously. The big decision is probably either taking Crouch or Holt.