There are lot of views supporting and opposing Dravid's decision not to enforce the follow on, A round-up has been nicely done here.
My view: The decision was correct. Dravid didn't trust his batsmen to chase 100+. Barbados with 120 to win still rankles. In Mumbai, we lost 5-6 wickets chasing 100 and at Trent Bridge in the same series, we lost 3 wickets chasing 73.
Kumble on a 5th day pitch was a mouth-watering prospect. Zaheer was suffering from some strain and hopefully would have been fully fit on a 5th day. SideBottom was injured and may - just may - have come on to bowl on the 5th day.
Finally, as Dravid mentioned, this was the first time all the bowlers had played 3 tests and only someone who played back-to-back tests would understand how tired his bowlers were.
All said and done, in my humble opinion, while the decision not to enforce the follow-on was justified, the batting crawl was appalling. We needed quick runs. Sure, at 11/3 we needed to consolidate. But as Ganguly proved there were runs for the taking. Even after Dravid left, Laxman and Dhoni were guilty of not trying to score quickly enough.
Anyway, a 1-0 series win over our past colonial masters on the eve of Independence day is great. Savour it. There are some issues that we need to work on. But I'll save them for later. For now, enjoy the rare series win.
Well done guys!