I too am liking the 4-2-3-1, and you make some really good points about it. I'm hoping, as you said, that we go out and get an attacking fullback. I don't necessarily think that Alves is out of the picture. He had a really high pricetag slapped on him last summer, but I think it will come back to earth, especially as he's likely to want to leave this summer. Not sure if we'd pay the requisite 15M pounds or so, but he'd be an intriguing option for a variety of reasons - he could play in a 4-4-2, 3-5-2, and could even play as a winger in a 4-2-3-1. I'd be okay with us keeping Arbs as our #1 RB if we got a really good LB, but we need someone to provide an attacking presence from the fullback spot. The other guy Rafa's supposedly after is Rafinha, who also plays RB.
Kuyt has been linked today with Bayern Munich. I love the effort the guy puts out, but he's not Liverpool quality. Anything in the 7M pound range would be worth selling for.
My hope is that Babel continues to develop as a supporting striker who can play off Torres, that we keep Crouchy, and that Nemeth can come into the first team. I know it's only reserve games and U19 matches, but the kid has an unreal strikerate (better than 1 per game). At some point he's gotta get first-team action and see if he translates. I'm also hoping that Spearing, Hobbs, and Insua can make a first-team impact. I'm pretty sure we'll be seeing more of Insua, as he would fulfill our need at LB. Riise and Aurelio should be sold, although I guess I'd keep Fabio for cover purposes.
We make up our game in hand tomorrow v. West Ham. Time to take 4th and keep it.