Agree, I feel we can compete with them in terms of attacking midfielders. However, we are seriously lacking in the striker department especially if Diego Costa starts off well or if Aguero remains fit for more than half the season. That's not even taking into account the other strikers they have available.
While, with City and Chelsea once again adding to their centre midfield options, they have much more flexilibity in those areas. For example, City could quite easily play Toure ahead of Fernando and Fernandinho.