I'm talking about our squad from 2001 - 2005 primarily here. We won 2 PL titles and 3 FA Cups during the span. In Europe, our best finish was the QFs of the CL in 03/04.
- 01/02
2nd group stage
- 02/03
2nd group stage
- 03/04
QFs (Knocked out by Chelsea)
- 04/05
Round of 16 (Knocked out by Bayern)
Add to that the calamity of a bottle-job in the Prem in 02/03, when we squandered an 8-point lead that we had over ManU during March, and lost the title in the penultimate match of the season.
Ideally, we should have won the Premier League 3 times in a row between 01 and 04. And, we were in pole position to win the CL in 03/04, if it weren't for Arsenal bottling as per ush. It's quite evident that 01 - 06 is Arsenal's finest hour, probably rivalled only by the side of 69 - 71 (that won the Double and the European Fairs Cup) and Graham's solid side of the late 80s/early 90s.
Every great side since Wenger joined Arsenal has won the Treble—SAF's ManU, Pep's Barca, Mou's Inter, Heynckes' Bayern, and Messi-led Barca of 14/15. Juve are on course this season.
We didn't have to win the Treble of course, but it's such a bitter pill to digest that we didn't manage to clinch the League and CL double in 03/04. In the CL final, in 2006, we were up against FC Ronaldinho, and in hindsight, it would have been a shame if the most talented player of the modern era didn't win it. In 03/04, the final was a poverty showdown between Porto and Monaco. That is such a, "It should have been us," moment.
So, what was the immovable object that wouldn't give between 2001 and 2005 in Europe for us? Why couldn't we break into Europe's elite in arguably the best era Arsenal has seen?
PS: Please refrain from Wonga, wonga, more wonga--for sure, wonga.. Wonga, why wonga? kind of posts. Let's be constructive here.