Got to say that the recent attitude of keeping transfer fees in single-digit millions & rolling the dice has really annoyed me while the window has been open. However, as soon as it shuts, it becomes really obvious that spending big money wouldn't necessarily have improved our situation. I actually think that big fees mean a lot of pressure from us, the fans, to show how good you are immediately. For that reason alone I'm glad that we 'missed out' on Adam & on Carroll & even on Suarez.
Our recent (since the end of the 2008-9 season) smaller-fee signings (I'm talking less than £5 million) include Krancjar, Pienaar, Khumalo, Gallas, Friedel, Kyle Walker & Kyle Naughton. Not a bad set of outcomes for squad players, as someone mentioned above, especially when this is compared with higher-end signings (basically, more than £5 million) made in the season before that. These include Keane's resigning, Chimbonda, Palacios, Pavlyuchenko, Bentley, Dos Santos & Modric.
In the first group, Friedel has slotted straight into the first team & Naughton has matured into our first-choice right back. As well as that, we've gained squad players & reserves some of whom you feel for - Kranjcar is a class above many 'creative' players that get into the first XI of other teams in the Prem. In the second, we've got people who never proved to be worth their fee, some who shone brightly before being moved on, & Modric - one of the best players to wear the shirt in recent times (regardless of his lack of loyalty).
I think that we should be aiming to spend less than £10 million if we can, simply because it's what has worked for us in recent times. The teams around us spend crazy money on players that are very hit & miss, which has also been true for us. Van der Vaart, Parker, Sandro - three names that cost us less than £10 million but can drive us on.