Everything is relative. 20m might seem expensive, but it isn't if within the next 2 years he is worth 40m or 60m. So Torres was actually relatively cheap. Same for Alonso. Fabregas was exceptionally cheap when you see it now. Of course you could say, that nobody knows if they will be worth that. Well that's true to some extent, but that's one of the thigns that makes great managers. They can see just how cheap that deal really is.
I concur! But lets not forget that Wenger also signed Reyes and Baptista. He also sold Bentley, Upson and Sidwell. He's always struggled with keepers. It just goes to show that not everybody is perfect.