The former Gunners captain said: "Arsene (Wenger) has done some great things and the players are responding to him at the moment.
"When I left, (Cesc) Fabregas had the chance to be selected. And he has since blossomed.
"Titi (Henry) has left and (Emmanuel) Adebayor has never scored so many goals. (Robin) van Persie also feels he is like a leader now. In my time, we had a great team. We played well and were physically strong. But this current team plays better football than in our day.
"Whether that means they are going to win something is another story. But whatever happens, Arsenal are one of the two or three teams in Europe who play the best football."