Ealing, with all due respect, I have to disagree with the statement in bold. Chelsea did not "take us apart" - they were just more consistent in the Premier League and we outplayed them in both of our league matches and should have won at least one of them. However they were worthy champions because of the fact that they were the most consistent team and we were far from it. But head to head, I take us every time.
As for PSG, they do play in a less competitive league but have bought some excellent players who would of course rise to the CL challenge. Especially when they are largely untested in their own league. Ours are fighting tooth and nail most weeks in the PL and often have some really important matches either the weekend before or after. PSG don't often have to deal with that I would wager and can pretty much concentrate on Champions League most of the time.
So yes, probably more of a chance in the CL but very much less competitive domestic league overall. Let's see what ambition the proposed players have.
Either way, 'tis a far cry from where City were when we met in Oz back in '08. ;)