I bet you are happy. All this money, buying sucess etc etc. Same position as my mob six years ago. Slight difference, Chelsea were already a team in the Champions League, already had a team that was capable of picking up the odd Cup along the way, just needed the cash injection and some fine-tuning. City, on the other hand weren't even good enough to qualify for Europe this season, so have a HUGE gap to close. Personally, I think they WILL break into the top four next season, simply because they will have most midweeks free, where the other top sides are playing in Europe.
Watch out, however, there are a few (mostly Man U and Liverpool fans) who will detest everything you achieve, will hate the fact you are now competing on their playing field, won't accept your victories as worthwhile.
I say Good Luck to City, but would also pi$$ myself if it all went t*ts up, and with Hughes in charge that is just as likely.