Now that the Copa América finished with Brasil winning 3-0 over Argentina, we can safely say that effectivity won over beauty. The Argentines had an excellent semi-finals game against Mexico, who had come from thrashing Paraguay 6-0, and had beaten Brazil and Ecuador and tied with Chile in the first round.
In the U-20's WC, the kids lost also against Argentina, this time in quarters. Furthermore, in the Pan-American games, the women also lost against the albiceleste, this time in the group stage. So, if you bet in a Mexico-Argentina game, don't say you don't have enough background =(.
A good summary can be found here, where they basically say what I was going to write about: Mexican football has grown and most probably the third place won against Uruguay reflects its status in the continent, but is still missing the leap in quality that will let it win when it matters against the top teams.