Here's a few players who wouldn't get a sniff in this Arsenal side: Walcott, Mertesacker, Flamini, Almunia. Those guys would barely make the bench.
I think Arteta would probably show a surprise love for Giroud and have some weird idea about how to use him.
The rest of the individuals in those past XIs were great players for the most part, someone like Kolo was a pretty absurd athlete, Sanchez, Van Persie, Arshavin, Fabregas, Adebayor, Nasri were all amazing on their day.
The offensive tactics we use now would open up those old Arsenal sides like a can opener, but we'd still be vulnerable against all these sides, they're stacked with electric talents.