I'm not sure that even Putin knows the answer
SpecOps types are probably damn capable
Heavy division Army for major rolling offensive,? although greatly reduced from years past and much disintegrating, they could likely beat most in the world. But we are about the only ones able to take our hevy forces to theirs and they probably can't move much more than a handful of divisions
TacAir probably around 5th in the world, StratAir, maybe a few squadrons at best, Airlift , in numbers probably second only to us. But I wouldn't want to fly in their birds. Air Defense again a few squadrons, and a fair ground missile capability, abliltity to field a mobile force protection capability, shaky.
Navy, with few exceptions, rusting away.
core professional groups aare probably very good, the rest is not adequately supported or supportable.
Conscripts - Reliance on conscription was one of the straws that broke the bear's back. By the early 80's most conscripts were not Russian speaking and mostly nominally or very Moslem. Training by beating is not a viable method and they are slowly getting away from it.
Strategic Arms - scary but I think they retain some ICBM capability, but the state and safety of weapons is marginal. Can they deploy tactically or strategially against targets in Central Asia, MiddleEast, yeah some. Enough? more than enough? probably.
If they decide to use, will they care about the fall-out released on the rest of the world? NO. Should we be concerned? YEAH
Can the Chechens awake the once mighty Bear? Yea, it may be an older and decrepit bear, but when it catches the jackal, the jackal will lose badly.