Quality of football at the top is better today, but competition within the game is way worse. Before Bosman and before free movement within EU, there were a lot more clubs truly competing for the biggest trophies. A club like Southampton, with the players they have brought through in the last 5 or 6 years, would most likely have been a strong candidate for winning the PL.
I would also think that most clubs would prefer to have the old transfer system back, although with the free movement of players; the Bosman ruling shifted the power from clubs to players, and I think it is a major reason why we have seen wages in the game absolutely explode since. A player like Sterling, for instance, wouldn't be able to hold Liverpool to ransom like he is now.