I have heard and read that Edu was the first choice, but we moved on to Monchi and sounded out Overmars because Edu at first didn't want to leave his position with Brazil, where his contract ran until 2022. Our persistence paid off I suppose.
I agree with Quincy generally; competence is what matters, but it's a big bonus if you find someone both extremely competent and with a big history at the club. Hopefully Edu is that man.
I'm surprised that no one has posted his goal against Celta Vigo yet. One of the best Arsenal goals I've seen:
[video=dailymotion]
Not that it's in any way relevant, but any excuse.