Well Chelsea don't compare that well given that they only got to the last 16 of the Champions league. I'd agree with you that the standard in the EPL has dropped recently, the teams that the top are failing in the UCL and Europa league, while the newly promoted teams like Burnley and QPR look crap. Leicester are the only one that has surprised anyone. And next season Bournemouth will be in the EPL, with their 10,000 seater stadium :D .
This league has been too easy for Chelsea, I'd expect Man City to get out the oil money and hire a new manager for next season. I think Hull will go down and I don't think a lot of people will miss them. Disappointing to see Gerrard couldn't get the send off a legend like him deserved yesterday, Liverpool have lost a great player in Gerrard but they will also need some big signings this summer (which we all know they won't get).