This time last year, Arsenal fans everywhere were wallowing in the cold, salty waters of pessimism, despair, and extreme anger, following an appalling start to the season and a transfer window that saw key players depart, with the gaps seemingly only plugged briefly with a collection of panic buys.

This time last year, the general consensus was that Arsenal would suffer a mid-table finish, with some particularly emphatic prophets of doom forecasting a relegation battle.

One third-place finish and a reasonably successful transfer window/treatment room clearout later, combined with a solid, promising start to the season, Gooners are bathing in the warm Jacuzzi of optimism, with the slight chlorine-y taste of caution, as we all know what happens when we get ahead of ourselves.

With this in mind, what can Arsenal realistically expect from the season? Do they have the quality and strength in depth to challenge on four fronts, and finally win that elusive trophy?

We’ll go tournament-by-tournament, with expectations.

Premier League

Arsenal finished last season with 70 points, despite only having 1 at this point last year, and 7 after 7 games. We’re currently on 5 points, and despite a tricky run of games ahead should comfortably exceed that total for the beginning of the year.

Unfortunately, the dominance of the Manchester clubs, or club (Manchester United are a weaker force this year, Van Persie will mask it but their defence and midfield are reminiscent of ours last year), combined with Chelsea’s spending will make it hard to get a look in for the title.

Certainly, our first eleven can match any of them on our day, but Arsenal don’t quite have the depth to make that final push. While midfield and defence aren’t areas for concern, the lack of a reliable No2 (Mannone has done well recently, but wasn’t tested in his two games standing in) and any kind of striker (barring Chamakh) backup means that one or two poorly placed injuries would give Arsenal a sticky few weeks, a few weeks that would most likely end any title ambitions.

FA Cup

Now this is more promising. Arsenal have suffered in the cups recently due to being a form team. Later rounds of the FA Cup normally coincide with a bad patch for the Gunners, but this season’s team is built around every player putting a shift in, regardless of off-days or not. Arsenal can turn up to every cup game expecting to win, and can easily win, barring a difficult draw.

In all honesty, I expect Arsenal to win the FA Cup this year, it’s what they should be aiming for. It’s not a trophy on the level of the “big two” but it’s enough to represent some degree of success, success that can anchor any unhappy players (hello, Mr Sagna!)

Champions League

A good performance would be the last 8, the semis exceptional. The Bayerns, Madrids and Barcas of this world are beyond what Arsenal are capable of, and there is no shame in that, they’re much richer than us and have better teams than us.

There’s nothing saying we can’t have an 05-06 esque miracle, but I don’t think that will happen. Nor will we “do a Chelsea” because we have a modicum of loyalty to playing actual football.

Capital One Cup

Another trophy Arsenal can see themselves as contenders for, though of course it should be seen and accepted as a second-rate competition.

Arsenal will likely play a team of youth and second-string first teamers, with players like Serge Gnabry, Ignasi Miquel and Tomas Eisfield likely to feature. This is one of the best crops of young talent Arsenal have produced in a while, and I can see them pulling off a shock again.

So, what would justify a successful season?

Latest: