I think you need to readjust your expectations. In 2 years time Watts, Scully, Trengove etc will be 20 years old. They will likely not hit their peak until about 23-25 years old. Our window is unlikely to be open for another 5 years, not 2.
I think it is a good decision to extend Bailey until the end of 2011. This way the MFC can re-evaluate his contract midway through 2011. By this stage we will have a clearer understanding of whether he is the man for the job or if we need to look for someone else.
If we are to look for a new coach, you can't just expect to decide this at the end of the season and then appoint one straight away who can then come in and review the list and begin stamping their mark on the team. You need to decide halfway through the season whether you will look for a new coach or not so that you can evaluate your options to make the correct decision.
Bailey has had two years to build a list. We have now given him two years to build a team. If he has not shown anything by the end of 2011 we can part ways and appoint someone else who can take us into our "window" in 2014-2020.
The club has made the prudent and correct decision in this instance and I am happy with the current administration of the club, the happiest I have ever been in my 28 years.