Sunderland are not a good team at all. If you believe their hype, you'd think that they had the second coming in Martin O'Neill. They talk like they have improved massively since he came in for Bruce, but if anything they have stagnated. Yes - this isn't his team, but if he's going to build a side that is going to qualify for Europe he's going to need a complete overhaul. I'd say there was one, maybe two that would make it into the current top 7 or 8 teams. Everyone knows that MON needs to spend in order to build - and I don't think he's going to have the luxuries that the likes of Bruce and Keane had due to FFP.
Of course...I'm probably a bit biased!