We need to spend, and spend wisely. Two high quality fullbacks, a world class SS, and we can begin talking about challenging for 3'rd place.
We can't afford to be wasting money on useless players like Montolivo, Pirlo, and Gilardino. These purchases will get us nowhere and guarantee nothing (only emphasize the whole Italian and experienced in Serie A fetish).
Other teams will continue to strengthen (Milan, Inter, Roma, and even the likes of Napoli and Lazio) and in order to remain competitive in a rather weak Serie A (just goes to show how weak we really are) we will have to raise the stakes and show some ambition; otherwise, it's goodbye CL for the next 2-3 seasons at the least!
We are rather fortunate that Serie A's general standard has declined drastically. Think back to the late 80's and early 90's, before we began conquering Serie A again, and the Juventus of back then (which struggled to finish in the top 3, even with high quality players, far superior to the crap we have today) and you begin to comprehend that we have a long long way to go before scaling the heights we used to enjoy back in our heyday!