My two cents:
Chelsea spend too much money. So did Liverpool this summer, and their squad is still lacking. For some odd reason, which I have my suspicions about, United didn't spend any money (net). Ranieri/Mourinho made some very good purchases, and some poor ones, just like all managers. But when Chelsea buy there are a couple differences:
1. The price is higher. As someone said above, they know chelsea will end up paying it, so why not. Plus it makes clubs much more eager to sell to Chelsea and bank the extra millions. £21 mil for SWP? £28 for Essien? £8 for Del Horno? Those prices are serioulsy inflated, which is fine for Chelsea, but means that other clubs will suffer because they can't compete.
2. Chelsea can afford to buy short term. Most smaller clubs who splash out £10 mil on a player are doing so with serious investment in the future. Chelsea can buy a player and they know if he doesn't work out they can sell him and not worry so much about it. Other clubs can of course sell players, some even use them as an investment, but with the prices Chelsea are forced to pay, they'll never make much money on selling players.
3. The manner in which they sign players is a bit iffy. Robben was apparently on his way to old trafford, maybe it was something as romantic as Ranieri's convicing speech, but I somehow doubt it. Lyon fought long and hard to keep Essien, but how could they turn down such a price. Crespo, poor bastard, desperately pleaded to be left in Milan, where his family is happy, where he was happy, but no, he's forced back to London. Obi Mikel...well lets not get into that. I still imagine he'll be playing in Stamford bridge before anywhere else in the prem, legal or not. A day before he was sold SWP pledged his future to man city, and said how he loved the club, the fans and what not, but then the offer was so ridiculous, city had to sell him. All of these things are perfectly legal (i think) but leave a bitter taste in everyone's mouth, so to speak.
All that aside, when you all play footie manager or even PES, don't you feel the urge to buy and buy? I mean, who came blame them? Chelsea have assembled a team that should comfortably beat every other team in the premiership, especially now that a chunk of United's first team are injured, and Henry is out. That's not greed, its just how to win a championship. United's team used to be head and shoulders above every other team, but they still lost, and premierships were occasionally close. Chelsea's dominance is not just their spending, but also their attitude.
As for boring football argument, there was a stat on before the Arsenal game that showed there have been 50 less shots on goal this season than at the same point last season. Given that Unitd have managed 5 in their last 3 games, and they usually average about 12-20, I think that figure has nothing to do with Chelsea...