I wouldn't say we had the 2nd best squad at all. It was clearly inbalanced which is something Levy and 'Arry both needed to take responsibility for.
Ok, maybe saying we are better than Utd on paper is pushing it. But i truly believe we have more quality than Arsenal and what Chelsea had last season. Although they have improved a fair amount this close season. So maybe 3rd best squad. Still, my point is that we weren't overperforming last season.
Next season will be different and i don't think any of us can expect 4th no matter who the manager is. Pool have a new man in charge and will no doubt chuck money around. Chelsea have already spent the best part of £40m (not including Hulk who i'm not sure has signed or not). Arsenal are strengthening nicely.
City and Utd will of course be up there again.
