Sure, Ronaldo's gone, but there's plenty of excitement

With football's summer transfer window remaining open to a strong draft until the first of September, there's still plenty of time for some major moves in the English Premier League.

But with the league kicking off again in about a month, it's a good time to examine the most significant English transfers that have already seen pen put to paper — well ahead of all the drastic negotiations that are bound to take place for the last-minute movers and shakers as midnight approaches on deadline day.

Unlike the last few years however, where it seemed like every big name was being linked with one of the 'Big Four' in England, this summer's transfer thunder was immediately and demonstratively stolen by Spanish giants Real Madrid.

Two world record transfer fees later, Los Merengues brought back the Galactico era in the blink of an eye. Real shocked the world with its capture of Kaka from AC Milan for $92 million, then required it to use a defibrillator when just a week later they snagged World Player of the Year Cristiano Ronaldo from Manchester United for a cool $131 million.

Manchester United planned to use some of the Ronaldo money to purchase rising star Karim Benzema from Lyon in France, but once again, Real pried the youngster from Sir Alex Ferguson's clutches to the tune of $67 million.

With three of the biggest stars now off the market, the Red Devils have been forced to consolidate their ambitions. Sure, players like Zlatan Ibrahimovic and Franck Ribery are still available (although Ribery admittedly only wants to join Real as well — go figure) and could still manage to find their way to Old Trafford between now and the end of the transfer window, but United has clearly stated that there will be no more buying this summer.

Before that statement though, United went out and got three players to replace the departed Ronaldo and the desperately loved but understandably frustrated Carlos Tevez (who joined crosstown rivals Manchester City earlier this week — more on this later).

Their first signing was promising Ecuadorean midfielder Antonio Valencia, fresh off a strong season with Wigan. Valencia is a pure winger, unlike the man he's replacing in Ronaldo, and is loaded with pace and hustle. His crossing, however, lacks consistency, but he'll be pushed at Old Trafford and expected to improve in that department quickly.

It's unfair to expect Valencia to deliver the kinds of performances week in and week out that made Ronaldo the best in the world, but he will be under the microscope from the first whistle. Who would envy that position? That would be like trying to follow up the Michael Jackson memorial with a puppet playing a kazoo.

Should Valencia indeed improve his crosses during the season, it will be up to England star Michael Owen to latch onto them and score a few goals. Not unlike Johnny Damon's blasphemous move from the Red Sox to the Yankees, Owen, a former Liverpool star (one might even say legend), will no doubt face a cauldron of hatred when United takes on the Reds at Anfield.

Owen joins United after a dismal campaign with Newcastle which saw the Magpies relegated to England's second tier of football. Well, that might not be fair. Newcastle was dismal as a team, but Owen fought through much of his injury troubles and managed to play in 31 games and score ten goals.

While not the player he once was who could perhaps carry a team atop his small frame, Owen could very well experience a renaissance of sorts with a better team surrounding him. The big question, as always, will be his fitness. If he can stay healthy, he'll be a major asset for United (and at minimal cost), but should the injury bug strike, at least he'll have plenty of solid cover and won't be forced to rush back.

The latest arrival in Manchester is French youngster Gabriel Obertan. Much like the Ronaldo experiment six years earlier, Obertan comes to Old Trafford with little on his resumé, but an indiscernible spark that has managed to catch Sir Alex's eye.

The former Bordeaux star is hit or miss, though. He could very well develop into a world class player under the watchful eye of Ferguson, or might just as easily wilt under the demands of immediate success with the two-time defending champions.

Now, if Liverpool fans are going to give Owen the business in Liverpool, United fans will most certainly return the favor to Carlos Tevez after his crossing to the 'dark side' of Manchester (at least according to United fans).

The Argentine star's $41 million move to City was hardly a surprise after a turbulent season that saw the former Boca Juniors hitman spend more time on the bench than on the field. Tevez was a huge part of United's 2008 double, but was brushed aside with the arrival of Bulgarian striker Dimitar Berbatov.

Fans and pundits alike questioned his lack of playing time, but no one can say that Sir Alex isn't always well-prepared with a plan. United won the title and reached the Champions League final with little contribution ultimately from Tevez, but his value was always unquestioned. Displeased with the circumstances, Tevez opted not to stay at Old Trafford after the club desperately tried to re-sign him following Ronaldo's departure.

You reap what you sow, right?

But Tevez isn't the only big name City fans will be wearing on the backs of their jerseys this season. The attacking lineup was further enhanced with the additions of Paraguayan star Roque Santa Cruz and versatile midfielder Gareth Barry, from Blackburn and Aston Villa, respectively.

Man City manager Mark Huges faces a dilemma though — how will he integrate the new players with the existing core that features such talented stars as Robinho, Elano, Martin Petrov, Stephen Ireland and Craig Bellamy? Hughes will have to find a delicate balance with many of the big names being forced to sit, and do an ever better job of managing those egos that do step on the pitch.

Should Arsenal's Emmanuel Adebayor also join City (which is reportedly very close to happening), that job will be even tougher. Hughes will also have to address his back line, which is why the Sky Blues are vigorously in the hunt for Chelsea defender John Terry's signature.

Down in London, Arsenal and Chelsea have been relatively quiet so far this summer.

The Blues splashed out $29 million for Russian star Yuri Zhirkov, but it will take some time before the Stamford Bridge faithful find out if he's more Andrei Arshavin than Sergei Rebrov (yes, Rebrov was Ukrainian, but he's always the Eastern Bloc's measuring stick for ineptitude).

New Chelsea coach Carlo Ancelotti will also have a dynamic young forward in Daniel Sturridge, but at only 19 years old, his chances in attack will be limited due to his place in the pecking order behind established stars like Didier Drogba and Nicolas Anelka, and good soldiers Salomon Kalou and John Mikel Obi.

Across town in North London, the Gunners have been eerily silent, almost as if lulling the entire footballing world to sleep ahead of a major deal. Could the penny-pinching brass at the Emirates actually be planning a major coup? Given their history, it's doubtful, but if there's any 'Big Four' club that needs an injection of composure, it's Arsenal.

So far, the Gunners have only brought in defender Thomas Vermaelen from Ajax — hardly the big name like Felipe Melo that Arsenal was rumored to be chasing. The Belgian international, who cost $17 million, has a lot of potential to be a strong stopper, but at only 23 years old, doesn't deliver much in terms of that "veteran leadership" Arsenal so desperately needs.

Look for Arsenal to make a few more moves before the deadline.

Liverpool's big splash has come on the defensive end after purchasing England international Glen Johnson from his Portsmouth exile for $28.6 million. After leaving Chelsea for regular playing time on the south coast in 2007, Johnson's star faded quickly. But after a solid season on a less-than-decent Pompey side, Reds manager Rafa Benitez took the calculated risk by bringing him to Anfield.

While the central pairing of Martin Skrtel and Jamie Carragher is one of Liverpool's strengths, there were problems last season holding on to leads due mainly in part to the constant rotations of the wing backs. The Reds' 11 draws on the season truly cost them any chance of winning their first Premier League title since 1990.

In Johnson, Benitez has an internationally experienced right back on the right side of 30 who will certainly benefit from the quality of players around him and the opportunity to showcase his skills in the upper echelon of Europe as well.

Across the Mersey River, Everton successfully held on to Manchester City's Brazilian striker Jo after coming to Goodison Park on loan during the January transfer window. It's a one-year loan this time around, but the stability should help the former Corinthians and CSKA Moscow man find his place in the team.

Jo will have any number of capable strike partners, with names like Yakubu and Louis Saha returning from their injuries, but the rumor mill is buzzing that American international Clint Dempsey is being lured to Merseyside and away from Fulham. That's a definite "wait and see."

Sunderland, who just barely avoided relegation last season, gets a boost with former United starlet Fraizer Campbell, who spent last season with Spurs. At just shy of a $6 million transfer fee, it's a lot of money at the Stadium of Light, but Campbell showed signs of catching up to the Prem's best defenders last year — at least in the few opportunities he was afforded.

But the Black Cats aren't exactly loaded up top with guys like Kenwyne Jones and David Healy in the rotation, so Campbell will get his chances under Steve Bruce — ones he never did with Harry Redknapp at White Hart Lane.

Speaking of Spurs, well, there's nothing to speak of, which is odd. Usually Tottenham does its best around this time of year to pretend it's one of the big boys, but so far all Spurs have done is sell. But don't think for a second that Harry's not scheming up something fairly big (Amr Zaki, perhaps?). If he can pull it off, that's a different story.

Promoted Birmingham City did some pond skipping to acquire the services of Ecuador's international striker Christian Benitez from Santos Laguna. Only 23-years old, the young forward struck for 31 goals in only 58 appearances in Mexico, so he's got killer instinct, but it's hard to name any players who honed their skills in the MFL that have made an immediate impact in England. Might Benitez be the one?

Of course, this list could go on a lot longer, but most of the other players that have joined Premier League teams so far will have to show a little on the grass before being readily noticeable. Diamonds in the rough will appear, there's no question about that.

And there will be busts ... a lot of them.

Without a doubt, there's more to come this transfer season, so stay tuned.