Fergie explodes as Gunners sweat on Vieira
However, while that duo cost a combined total of some £37 million, Arsenal have perhaps secured the best bargain of all in snapping up Spanish prodigy Cesc Fabregas for a fraction of the price.
As the Gunners again displayed their convincing title credentials in sweeping aside Aston Villa, the likes of Thierry Henry, Robert Pires, Dennis Bergkamp and Jose Reyes all played starring roles.
However, Fabregas, for a relative novice of just 17 in his first Premiership season, was simply majestic in the centre of midfield.
"The difference with Rooney is that he was already a full international and had played at Euro 2004 when he was sold. Fabregas had never played in the first-team," said Wenger.
"But while Rooney is already now considered to be a great player, Fabregas is very promising too."
What is staggering, however, is to think that Barcelona allowed one of the brightest talents in Europe, let alone in Spain, to escape their clutches, receiving just £2.25m compensation for the youngster.
While Rooney, who turns 18 later this month, cost around £25m and Ronaldo, now 19, cost £12m, Fabregas, who is still 17, was taken to Highbury for next to nothing.
No wonder that Wenger, who has pulled off some incredible transfer deals in his time, can hardly believe his luck. "He was out of contract at the age of 16 and they didn't make him sign an extension of his contract as it was all delayed within the club with a change of directors," he said.
"We'd seen him since he was 15 and he wanted to move to England, so we got him. He wasn't convinced that he'd get his chance over there. That's how it works sometimes.
"David Beckham may have gone to Manchester United at 11, but I spoke to him the other day and he was training at Arsenal when he was younger."
Fabregas made his first-team debut last season in the Carling Cup, becoming the club's youngest ever goalscorer in the process. However, he truly made his mark in the Community Shield when he starred in the enforced absence of Patrick Vieira.
"I could see that he had something special but you never know how someone that age will develop physically or mentally," said Wenger.
"Even now, it's very early and you've seen many players promise a lot at that age. But what I like is that he's humble, he wants to do well and win, and he loves the game. I must say that his maturity is stunning.
"For a boy of 17, he never has one touch too many on the ball. His distribution and awareness is fantastic for such a young boy."
Fabregas has been restricted to one game a week so far to ensure his development is not rushed but he may start away to Panathinaikos on Wednesday, depending on whether Vieira recovers from a twisted ankle.
Wenger believes France expect too much from Vieira and his compatriots at Arsenal and admits his skipper will miss European duty on Wednesday. "I think there's an 80% chance to lose Vieira, the way I've seen him limping," said the Arsenal boss.
Fredrik Ljungberg is also hoping to return after a hamstring injury, although Gael Clichy is still injured and Dennis Bergkamp will not fly to Greece.
Wenger is nevertheless delighted at the form of Henry and Pires, who have come in for criticism in France for supposedly failing to repeat their superb club displays for their country.
"Since Zinedine Zidane has retired they are the main targets if it doesn't work out like they expect.
"France has been spoilt by the results of the national team for a long time and now nobody accepts that many great players have retired. There is now more pressure on Vieira, Henry and Pires than anybody else."
Wenger said: "At the moment, I feel that Robert plays with less confidence for the French national team but I feel it can happen to anyone.
"Maybe he doesn't always get the praise he deserves in the French media. For me, he's a great player."
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