As a Saints season ticket holder, I am saddened to see A O-C go as he is a terrific talent. I would have like to have seen one more year out of him at St. Mary's and feel just as robbed as were were several years ago when Arsenal snapped up Theo Walcott. Without doubt, he is one of the most exciting prospect in the English game at the moment but, as pointed out, not at all what Arsenal need at the moment.
In my opinion, I find it strange that Chamberlain seemed so intent on going to Arsenal. For several seasons, this London club have been "also rans." Back in the late 1990's, Wenger has assembled a squad that clearly pointed the way that football would be played for the next decade. (There is an interesting chapter about Wenger and his approach to statistics, etc in the thought-provocing book "Why England lose.") However, I think many other teams like Man City, Spurs and Liverpool have now caught up and the emergence of Chelsea under Abramovic has meant that Arsenal aren't even the best team in London. Watching Man Utd on TV over the weekend only served to emphasise the extent of the gulf that has now opened up between them and Arsenal. I would be really surprised if Arsenal finish in the top 5 this season. They are a team on the slide and Wnger is far from the shrewd and perceptive manager he was in the days of Thierry Henri. Chamberlain was sensible to have avoided the likes of Chelsea and Man City who have poor records with young, British players. However, if he wanted to REALLY develop his career Man Utd would have been the better option . Even Liverpool under Dalglish would have been a far better choice than Arsenal.
All in all, sorry to see a talented player leave but the money received is totally out of proportion with the player's worth and potential. As has been implied, this makes you wonder whether Wenger has lost the plot. As seriously bad mistake by the Arsenal management and demonstrative as to why the domestic cups will be your only realistic chance of silverware this season. Wenger must be the laughing stock of London!!