O'Neill knows he still has work to do to revamp his squad and owner Ellis Short is expected to finance further strengthening in the January transfer window.
O'Neill said: "I've spent money on two players, I have taken two lads on free transfers and brought one in on loan.
"So at this minute, we are essentially the same side as last season.
"We have to deal with that and try and improve.
"We lost some players over the summer, some of which I had nothing really to do with but they were on the payroll - Angeleri, Riveros, Craig Gordon.
"About eight went in total, and we brought in five.
"What we want to try and do is put together a decent squad so that there is nothing really to choose between a number of the players.
"We want to improve the quality, because that is what will make the team half-decent."