U.F.G,
There is no need to get carried away mate!!

You start your post by telling us not to over-react yet proceed to do so yourself.
No-one is predicting an apocalypse or even a disaster.

Indeed, most of us have made the same point that you did at the beginning of your post; namely that we don't think Arsenal can win the title, especially with the lack of depth in our squad!!
Yes, and some of us
are concerned that we will face a bigger battle for a Champion's League place than perhaps we should be having, due in large part to our failure to sign a couple of quality players that we look in need of.
As for Hleb being our best player so far this season - I beg to differ. He certainly had a good game against Fulham but was back to his old lack-lustre ways in the Blackburn and Man City games. Hleb had at least half a dozen chances to do what Cesc did - i.e. shoot - from very similar positions inside the opposition box, yet only once did he do so.
Even worse, he left Flamini totally exposed on numerous occasions because too often he was to be found in a central position rather than wide right where he should have been. In the second half I was literally screaming at Hleb to get and stay wide or to drop back and help, yet the guy seemed to think he had a free role to wander where-ever he wanted to and not track back to help the defence.
If Hleb doesn't want to or can't play wide right, and would prefer playing centrally - which everyone agrees is his best position - he should tell the manager and battle for one of those places. However, like Arsene himself has said, everyone would love to play in that free role, but it's not something he is likely to do too often this season.
Personally, I'm not sure if we can play both Rosicky and Hleb in the same team - especially in big matches - because their game is too similar. Given that, I think a choice should be made as to which of them starts regularly and who should begin on the bench.
Although he gets injured way too much, I much prefer Rosicky to Hleb because I feel he offers more threat going forward and also does the hard graft like tracking back and tackling, which Hleb too often over looks.
