We seem to have been very wise/lucky with finding a replacement for PL. It could have worked out a lot worse, which was why I supported him probably for too long.
But, as you suggest, it's ironical that thanks to him we're now spending about three times as much per player and the squad is looking pretty good, and this makes him appear to have been incompetent in the transfer market (We're also able to offer proper wages to new signings because Lambert's signings aren't on high wages.) Closer to the truth is probably that he was just less competent at getting the owner to invest actual money in the squad.
Westwood is a typical example of a Lambert signing: Good value, but not a world-beater because world-beaters just do not cost less than three million pounds any more. I still thought that Lambert was good in the transfer window considering the limitations placed on him. Westwood, Okore, Bacuna, Benteke all good players, particularly considering the money spent. Of course he also got some absolute tripe aswell....