Are 'immense' Arsenal most formidable team in Europe?

Mikel Arteta says Bayern Munich are the "best team in Europe" but, after comprehensively beating them to maintain their 100% record in the Champions League, was this the night Arsenal announced themselves as serious contenders? The Gunners have been excellent this season - winning 16, drawing two and losing just one of their matches across all competitions. Arsenal have also won their first five matches in the Champions League for the first time since the 2005-06 season, when they reached their