All day long an Arsenal win. A draw a distant second.
There isn't a big difference between a draw and an Arsenal win. I'd be happy with both. Arsenal shouldn't be underestimated. They are close to the top despite the poor form of their forwards. If these regain form, they may win many games.
A draw or an Arsenal win change little regarding what we have to do: win as many games as possible and avoid a defeat at Anfield. An win may inspire Arsenal and make it a 3-horse title hunt.
I wouldn't be upset if Liverpool won. The expectations will go through the roof and that's never a good thing for a relatively new and insufficiently experienced team. I'd be very surprised if they didn't have a bad run of results, especially after our game with them. Things can change quickly.