Not good at all if the chavs get him.
A combination of a (more than) decent striker and their attacking midfield would be really quite a threat.
But on the other hand, do we need 3 short, stocky, high energy strikers? I would say no, we don't. Would make far more sense to have some balance with Dzeko to head crosses and set pieces in and hold the ball up. Balotelli to do daft things like he does. And TWO out of Tevez, Aguero and Falcao. But which two?
For me, you just cannot get rid of Aguero. And yet Tevez is probably the better footballer. Should we dump Tevez to get Falcao? Is he that much better, for all the money it would cost? No, I don't think he is.
So I would pass on Falcao myself and lets the chavs do their worst. We will still finish above them.