Good posts. I must have missed the meltdown stand-down. Here's a general response.
Firstly net spend isn't the important thing. Partly because that money goes to other clubs, so it stays "in football". We can make money one season, lose it the next. Salary goes directly out of the game forever, it tracks the inflation of TV money pretty much perfectly, and when clubs get into financial difficulty, that's where they've cocked up. Keeping on top of that is what keeps us secure, and the QPRs not.
We lost Morgan, Toby and Clyne and I don't think we had a hope of keeping any of them. Clasie and VVD were certainties to replace the first two. Cedric has played well against Vitesse but not at Newcastle. I think he will fit in there. Romeu I am very happy about and he adds something new, Caulker I rate highly and I think he will play a lot, Juanmi I hope he can perform and not have Tadic-like fitness problems. Stek seems like the best we could do in goal, he has performed well so far and I don't think a more experienced GK is a realistic signing and would cause us long term problems when FF comes back. Martina, haven't seen yet.
For first team player replacements I think we have done as well as we could hope. The only question is about Cedric at right back, but I think we will be ok there.
After VVD, I would sign a striker, if a good deal for a player that fits comes up. Disproportionate spending would be buying a mid-table PL player with a long contract left because we got worried. We bought Long last season for a lot of money, which I think was the wrong decision. It wasn't a transfer like any of the others we did, he never really fitted into our team, and it felt like we panicked and threw cash away. Long didn't have a massive impact on our final position, I wouldn't like us to do that again.
This is a big test for Ron but I think he will get it right. We went on terrible runs without winning last season but turned it around, and this one is no different.