You can pretty much predict where a club will end up in the league by comparing its wage bill to other clubs. Liverpool massively underperformed in this respect last year, of course, but as long as their wage bill is twice ours, the smart money will be on them finishing above us most seasons.
This season, I think it's still too early to tell. Sometimes they look useful, sometimes a bit suspect. Much the same could be said about is, to be honest. Arsenal and Spurs both have more strength in depth than us, particularly Spurs, but they both have slightly suspect temperaments when the going gets tough (it could be argued).
I expect Chelsea to be pushing for 1st or 2nd place by the end of the season.
Long, long way to go, though.