Judging by the hammerings against Spurs (A), Liverpool (H & A) and Southampton (A) + the fact we have lost 10 League games this season tells me the answer to that question is yes, we have regressed. Badly.
And some would have us believe that most of this is down to the shit players bought by our under-performing DoF Txiki Begiristain.
2008-09 - 50 points (Mark Hughes)
2009-10 - 67 points (Mark Hughes/Mancini)
2010-11 - 71 points (FAC) (Mancini)
2011-12 - 89 points (C) (Mancini)
2012-13 - 78 points (Mancini - Kidd in charge for last two matches of 2012-2013 - P 2 - W 1 - L 1)
2013-14 - 86 points (C/CoC) (Pellegrini)
2014-15 - 79 points (Pellegrini)
2015-16 - P 36 W19 D7 L10 - 64-70 points (CoC/UCL semis) (Pellegrini)
Roberto Mancini - 2010-2013 - 238 points (Kidd in charge for last two matches of 2012-2013 - P 2 - W 1 - L 1)
Manuel Pellegrini - 2013-2016 - 229 points (235 maximum)
Both managers have amassed broadly similar points totals, but they started from vastly different positions. The anomaly is the 2012-2013 season where it has now been revealed that we were in talks with Pep from as far back as then which will probably explain Mancini's demeanour as he knew plans were afoot to oust him come what may. The club was in turmoil from February 2013 when Mancini was asked during a press conference to comment on rumours circulating in Spain that he was to be replaced by Pellegrini at the end of the season. He told them to fuck off and it was downhill from thereon in. Everyone knew he was going on the morning of the FA Cup final and he was officially sacked two days later with Kidd taking charge for the final two league games.
In November 2015, Pep Guardiola confirmed he was not going to renew his contract with Bayern and would instead be managing in the Premier League from season 2016-2017 at an unnamed club. City with their Pep connections, Chelsea and ManUre were mentioned as the possible destination as was Arsenal, but in February 2016 Pellegrini confirmed the option of his one year contract extension was not going to be activated and that Guardiola was indeed going to become City's next manager on a 3 year contract. This anomaly could probably have had an effect on our form as City fell away from the title race, however aside from the first 5 games of the season our form had been patchy and disappointing at best anyway.
These are the statistics as they stand and to a casual observer there isn't that much between them with Pellegrini edging it with his 2nd CoC win. However the Premier League points totals and performances are the yardstick which tell the true tale of the tape and there is an undeniable linear decline in our performances and points totals during Manuel's time here. FFP has played a part and so have injuries but on the plus side investment has continued and the likes of Otamendi, KDB, Sterling, Mangala, Sagna (free) have been acquired over this period not to mention Jovetic and Negredo which balances out the effects of FFP considering the squad we already had.
Overall the one thing that statistics can't hide is what the fans see with their own eyes on a weekly basis. Good players don't become bad ones overnight and the DoF can influence match days only so much as it's really down to every manager to play the hand he is dealt to the best of his ability as Claudio Ranieri has just proved. How Manuel will be remembered will depend on the next 3-4 matches but the one thing I don't think will be forgotten is our slide from the defensively rock solid and the creative attacking Manchester City Manuel inherited to the defensively suspect and creatively inconsistent Manchester City Pep will inherit.
Was the wait for Pep worth it? Only time will tell.