To be honest, if this rumoured investment comes through, I'm quite sure Harry would have had us challenging for 3rd again. Maybe not long term and sustainably, but for a couple of years he may well have done. He makes good players play well - when England speculation isn't ruining our season.
But if everything was as it was, I'd say we were on for 6th as well. Top 3 would have been nailed on City, Chelsea, Man United. Arsenal would likely not be as bad again...although they might still. And if Liverpool spend well they would be a serious threat. So maybe 5th.
With Harry, we will always do well if we have good players. If his only striking options are Pav and Crouch, we probably won't do that great. We were on for 3rd when Chelsea, Liverpool and Arsenal were a complete shower, and once one of them got their act together we fell down. I don't think AVB has to get 4th to be justified. I think he should be at least 6th, and be in the conversation for 4th. I wouldn't really accept 7th unless it was a seriously tight league, not with the rumoured investment (only rumoured I know but if we are breaking our wage structure for Bale I think something's happening). AVB will be charged with developing a long term sustainable plan. Scouting, signing under-valued young players and turning them into consistent performers. Under Harry I imagine there was a lot of umming and aahing about 'unproven' targets and therefore it's probably why we then decide to sign stop gaps until someone truly quality becomes available. Levy wants long term sustainability, and even though I defended Harry when he was our manager, I don't think there's a single argument to say he was well placed to give us that.