I was referring to the modernisation of the Russian Airforce as a whole, not mig29 specifically. Though the project of upgrading 150 of them to SMT standards was initiated, it couldn't be effectively pursued due to budgetary constraints, if my memory serves me right.
F16 block50+ indeed is superior in terms of avionics and BVR capability when compared to either mig29 or su27, but that doesn't guarantee a win in case of a confrontation between the two. (Self explanatory I believe, you would obviously know the other factors contributing to an effective engagement)
Well if you're keen to compare the f4 SEAD capabilities, kindly take su34, instead of su25, to simulate the SEAD role and let me know the outcome.
Irbis E may not get a lock on F35, but the Zhuk AE might.
And please don't speculate on the superiority of the F35 just yet. Going by the same logic, one could put up PAK FA on the table, whose prototype has been recently handed to the Russian Airforce. But it doesn't make sense to bank on military hardware that hasn't been delivered yet.
The primary advantage that the Russian Airforce currently enjoys over your nation's is numerical superiority. And by a HUGE margin. That said, I tend to agree it'll incur losses as well, big time may be, or may not, you just cannot speculate on the important factors determining the outcome, like serviceability issues or fleet availability in case of a prolonged conflict. However, the odds are in their favor.