To be honest I just hope we don't sign players for positions we already have. For Instance; we don't need any more strikers, in fact we could do with offloading 1 or 2. We probably don't need any Centre mids either; considering Spearing, Shelvey, Lucas, Meireles and Gerrard can all play that position.
We do need a right winger, a good one - my choice for this role would be: Ashley young. Although if we are reluctant to go for him; then I'd be tempted to just play Kuyt/Gerrard in that position until Raheem is ready to take a step into the first team.
We do need a left winger; and according to reports we've established the services of one: Sylvian Marveuax. Although I was hoping of a bigger name for that role such as Turan; I think Marveuax is still a good signing, and will free up money for us to spend on other positions.
We also need a deep lying playmaker, there aren't many of the sort we need out there as we need an Alonso figure, but I suppose Honda is a good target. I see Lucas as a Mascherano type player (and probably does it better than Mascherano). Another target could possibly be Esteban Granero from Real Madrid, would probably cost us a lot though.
In defence we need 1 more central defender and a Left back. The central defender I would go for would actually not be Cahill, Cahill is overpriced and I think rather overhyped because of his season's form. I would be tempted to go for a swap deal with Juventus; Aquilani for Giorgio Chiellini, perhaps with some money towards it. Left back obvious one would be Coentrão, but Aly Cissokho would also be a good choice for us.
Leaving us next season with new signings of:
Coentrão,
Chiellini,
Esteban Granero,
Marveaux,
Ashely young
Don't think anybody could say we didn't have strength in depth then.