Zelalem has developed physically quite a bit IMO. He looks stronger now, and more aggressive. That's what I took from the tournament this summer anyway. The vision and execution of pass that he has is about as good as it gets, and he is perfect technically. Last, but not least, he is 18.
This may be controversial, but IMO Cesc Fabregas at 18 would at best be a bit part player in the first team if he broke through now with the players we have. In 04-05, which is when he first featured, these are the central midfielders we had in the squad; Vieira, Gilberto, Cesc, Flamini, Edu (who was injured all season basically and only started 6 games). That's it. By default, basically, he was third choice. In 05-06 we had Cesc, Flamini, Diaby, Song, Gilberto. Not much competition there either. Compare that to Cazorla, Ramsey, Wilshere, Coquelin, Arteta, Chambo, Rosicky and Flamini. With the strength in both ability and depth that we have today, I very much doubt Wenger would have been in such a hurry to bring Cesc through. Conversely, had Zelalem come through then, he may very well have been afforded the same game time as Cesc did.