It's so difficult to say as things stand at the moment. If we keep our best players and sign a few decent defenders and even upgrade one or two strikers then we could do really well. Sell a top asset or two (which is looking likely), and fail to replace them, or upgrade the defence properly, and we will really struggle.
It is a really fine line. It doesn't seem like we are going to sign many players and so far the transfer activity consists only of Palmer (who I find it odd we gave a three year contract to given his record, and ours with struggling to get players off the books). Kane, Walker, Waghorn, looked to be moving on, but are we now settling and keeping them? There is too many if, buts, and maybe's at the moment. My gut says I am a little worried, but it's definitely too early to call it, or start the 'panic'.
A good transfer window: 8th upwards
A bad transfer window: 18th downwards
A medium transfer window: 12th - 14th
In summary, an utterly pointless contribution!