Hmm, i can't say anything, but dynamics of the region are changing man. Russia lost all its allies in the middle east, it is bloody desperate to have something and someone to partner up and show finger to the west. Putin has never been the most 'mentally stable' man, he is a man of mystery.
If SU35 deal ever does happen, i would really want to know what did we offer in return, and it definitely won't be cash (that India can readily supply just to sabotage the deal)
Secondly, what if China wants these jets positioned, and China will always have more leverage over Russia than India.
Apart from that, your Indian concerns are genuine, but then they couldn't sabotage the MAR-1 deal with Brazil, F-16s with USA, AH-1Zs, Mi35s with Russia, etc.