At this stage the PL and CL should be joint priorities, with the domestic cups being secondary.
It would be a major mistake to prioritise the PL over the CL or vice versa. Success in one tournament will fuel success in the other. If we come top of the CL group, undefeated, I would bet that by Xmas we will also be comfortably clear in the PL. If we flop in the CL I would expect that we might be top or close to top of the PL at Xmas but by nothing like as clear a margin.
In 2011/12 I thought after the 1-6 that we would cruise it in the league. Other PL teams teamed genuinely scared of us. But then our air of potential invincibility was undermined by our poor CL performances. We were held to a draw by a very poor Liverpool after losing to Napoli, we lost at Chelsea after our elimination from the tournament was confirmed. Being knocked out of the CL knocked at least 10% of our league performances and added at least 20% to our opponents performances.