It was, as several have already pointed out, a different era. Talent, rather than money, ruled the roost in those days. It is inconceivable now to think of teams like City, Burnley, Derby and Nottingham Forest being league champions without money behind them, but back then it was the norm. You could also add Spurs, Leeds and Everton to the list.
Ipswich Town finished in the top four year after year with Bobby Robson in charge.
Whatever the rights and wrongs of the amount of money in the game at the moment, my thoughts are that Genial Joe is still the best manager the club has had. If Mancini stays around for a few more years and manages to build a dynasty, then fair play to him, but it is probably easier to manage a rich club now than it was back in the good old days, when it was a more level playing field with resources more equally spread among the teams.
Joe has, after all, still got more trophies to his name than Mancini.