I have an opinion of how things would have turned out, but I'd like to see other people's thoughts first before posting and being called a Randy-lover/Randy-hater.
Although it's hard to judge, I'd pretty much go along with being a top 4 side. We have to remember that had Ramdy released the same funds in 2001, when fees and wages were a fair bit lower, we'd have been the Chelsea/Man City of the day. In truth he probably wouldn't have, but there'd have been enough to make more headway as at the time there were less of the big clubs with their act together.
Regarding JG: he spent a net of £17.1m between 1997 and 2002 and bought in the likes of Gazza Bazza, Merson, Mellberg, David James, Dion D, Delaney, Boateng, JPA and the Hitz. So he made some decent signings as well as some dogs.