I think in fairness to Wenger the celebrations at finishing fourth last season were a reflection of the long-term significance of that event.
I think he got the nod that a CL place this season in conjunction with their capital commitments on the stadium significantly diminishing, was a green light for him to start spending some fairly serious dough. Their top four finish has cemented Arsenal's place among the new 'Big 4', not that Sky with ever refer to it thus. As a slight aside, notwithstanding our inclusion it was a little dispiriting to see those journalists in the Mirror the other day (with one exception) predict the same top 4 as each other for next season, just in different order, as was the case with united, Chelsea, Liverpool and Arsenal from 2004-2009. I'm glad we're inside the tent, but it's not good for the game and certainly isn't going to be reversed under FFP.
Arsenal will be able to fend off the challenge from Spurs and Liverpool with relative ease going forward and could have a serious say in the title race from time to time. This state of affairs would have been far less certain if Spurs had finished fourth. To me last season's race for fourth was a seismic event in the medium and long term battle for power in the English game.
Their methods have been questionable and their history is littered with more skeletons than any other big club, including united, but in terms of making the most of the hand they've been dealt in recent years to the furtherance of their club's strategic interests, Arsenal have completely outflanked the hapless FSG and the overly cautious Daniel Levy.
This top four will become even more calcified than the previous one and Arsenal have now cemented their place in it imo.
If you think Liverpool fans are bitter now, see what they're like in five years, those of them that are left that is....