My two cents on the whole Arsenal selling club stuff: Fabregas gave 100% on the pitch even when he wanted to leave and never disrespected the club, whether through comments in the press or by winding down his contract to force a move. I don't hold the irrational hatred towards Nasri many Arsenal supporters do (hell, I think he was the ready-made replacement for Fabregas the side needed), but, really, Fabregas carried the side almost single-handedly to a title challenge year in year out. Even when he wanted to leave. And it hurts knowing that if Wenger had matched that ambition, he would certainly still be at Arsenal.
The Kolo Toure and Clichy transfers (who were both stupid sells, but ONLY because they were not replaced properly) aren't really comparable to the Fabreags transfer IMO. And the main reason Adebayor gets huge shit from Arsenal fans is because he, unlike Fabregas, RVP, Nasri, etc. was complete and utter shit during his final season. The reason why RVP hurts is because it, more than any 8-2 result, demonstrates how far the gap has become between two clubs who do spend within their means. The Chelsea, City money excuse holds no water with United. And the fact is that until Arsenal wins another PL title (not another trophy, but the league title), that gap will still be there.
Regardless, I've always felt it doesn't matter whether Arsenal is a selling club or not. You can make cheap, easy purchases to strengthen the team. The biggest blow to the Fabregas side wasn't losing an Adebayor, or a Toure, or a Hleb. It was because Wenger never replaced a player like Flamini, who's role was the complete opposite of any "star". It's those kinds of purchases that build title winning squads, not "stars." I'm always annoyed when Wenger talks about not having 100m to spend: well, no one wants you to spend 100m. How about 10m?