Theo signed! I didn't think this was going to happen, until all of a sudden it started to look like it was going to happen. And then it happened.
Who was seriously interested in Walcott, anyway? Chelsea can afford anyone they want, Man City can also afford anyone they want and in spite of a preference for Arsenal players they appear to have their fill after they missed out on RVP, Liverpool bought Sturridge, SAF seems smart enough to avoid Theor, and Theo seems smart enough to avoid Tottenham. So would he have gone to a midtable team? Not that Everton or Newcastle or the like are bad team, but certainly not offering more of a title challenge than Arsenal or Champions League potential.
Theo needs to prove that he's worth it and can be more than "consistent in patches." He needs to realize sometimes he needs to play on the wing, but sometimes he can play central striker. He's been great at times this season and anonymous at others. I hope this gives him the confidence to be a leader in the squad.
Overall, I think the point of Arsenal giving in is a sign that the talent drain is going to stop. I would have preferred we kept RVP or Fabregas over Theo of course, but at least a line has been drawn in the sand. Not sure we'll sign someone before the month ends, but I hope the house cleaning continues and continues in the summer so we can get some of those top, top, top, top players that are so hard to find and Arsenal can focus on building rather than maintaining a squad.