I hear what you say about not knowing what to make of Wenger. My thoughts are along the following lines..
You decide you need a bigger better modern stadium. You don't want to bust the club in the process. You want to build a team from young talent developed yourself, building a conquering side for a decade and more. All very fine and laudable.
However, the rest of the world moves on and things don't quite work out after a few years of trying. Meanwhile, the financial position improves.
Having seen (he and Gazidis implied) last season that things were not working out as planned, he said there would be a new approach. Fine. Nasri/Cesc issues made it difficult to sort out the midfield issues till last minute, though Arteta was a solid buy and something we have needed - experience. The defenders bought seemed to fit the bill.
However, Arshavin and Walcott have failed to produce goals, something you expect of attacking midfielders. They have had years to adapt and build up but this season, they have manifestly failed to deliver and it is time to call time on them. If Wenger spends NOW - this window - on buying players who can finish, I'll give him more time as it will show he has reacted to the situation. But if he persists with these players who have had more than enough chances to show they can deliver, then I think it will mean he is clinging onto the old dream and not accepting he has to move on. And if that is the case, it is time for the Arsenal to spend, not just on players, but on a new manager. He has a couple of weeks left to convince me that he has adapted.