The Spanish national soccer team is indeed in the midst of national golden era and the question everybody is asking is how long will it last? You can look at the French national team how fast a glorified and homogenous team can be demolished.
The core of the players in the Spanish national team will have passed its peak after European Championship in 2012 and after that generation the pressure is going to be tremendous on the next. Players like Xavi, Iniesta, Villa, Puyol, Capedvile, will not be at the same level for the campaign for the 2014 World Cup campaign.
The positive factor for Spanish soccer is that there already is a new generation of leaders ready to take over, players like Fabregas, Pedro, Busquets all have the qualities to be the core of a squad that are contenders for the World Cup title, however this new generation will have to tackle a complete different type of pressure when entering a campaign, the expection that they should win the World Cup.
This is a heavy weight to carry on your shoulder which players from France, Brazil, Italy and believe it or not England have to experience every championship the national team is involved in. The current Spanish national team did not really have this pressure when they played the Euro Championship in 2008 or the World Cup in 2010, even though quality wise they had the players to be real contenders.
It is easy to forgot that Spain does not have a tradition of a good national team and it is only the later years they have started winning championships. So can the new generation handle the heat that awaits team? Only time will tell.