With regards to how much we should spend, I think the answer for me is somewhere in the middle. We clearly need to strengthen most of the squad, but then that's only what we should have done in the summer anyway, it's not like this is anything new.
I'd be happy if we made a couple of decent loan signings or free agents (again, this would have been far easier at the right time, in the summer - see Campbell) and spent wisely, up to maybe £5m? I see Milner going straight off for possibly £3m so that would obviously help.
I certainly don't see that throwing silly money at the squad will keep us up alone. Only an increase of determination (and organisation by whoever the manager is) and some half-decent players willing to roll their sleeves up will do that. Sibierski is a good example.
Splashing the cash has never been the answer. Using the cash wisely is. For example, how daft does the £15m on a player we didn't need (and has been shit by all accounts anyway) and an unfinished article in Martins look now? Surely with better judgement £15m could go a long way, and at least cover our squad from injuries? The likes of Allardyce and Curbishley dream of spending that kind of money; they stay up on much less.
So I say option C.
Anyway, 'If you select option B and we go down will you then blame the Board for not splashing the cash in January despite saying right now that they shouldn't splash the cash in January.' isn't fair; if we go down it won't be just because we didn't spend money. It's this simplistic view of Shepherd's (i'll just spent more money, that'll work) that was resulted in many of the problems in the first place.