I actually think he could play a similar role to someone like Lampard, as a drifitng playmaker, but someone who faces the play more often than not, rather than someone like Totti who plays with his back to goal. But whilst he has the ability and style to play that role he doesn't seem to have the energy and workrate that Lampard provides Chelsea, and that's a big part of the role.
I don't think we have a centre forward who can play without a player close to him either, and our formation is very much a 4-4-1-1 with a second striker, rather than three central midfielders. Even Yakubu, who's very pretty complete, but to do it on your own, you need to be top class in a number of areas. Pace, constant movement and Aerial ability help.
He is a wide player, and can play there effectively, but you have to question whether two playmaking wide players benefits the team as much as a pacy player (Donovan, Anichebe) and Pienaar. Especially when we also have the playmaking qualities of Arteta in central areas. That, more than anything, is what holds him back really, he wasn't what we needed at the time, despite being a capable player.
We'll see how it goes, he's still got until January to have a real go at it and make a position his own.