I think the difference with Real and Chelsea is that Real do it to build their image and hope that the results follow, which is why they buy so many great attacking players, whereas Chelsea are trying to build an actual team with all the cash they have when you compare the players they've bought...
Real:
Figo
Ronaldo
Beckham
Zidane
Cassano
Robinho
Chelsea:
Wright-Phillips
Robben
Makelele
Geremi
Essien
Ferreira
Duff
Drogba
Bridge
Carvalho
Cech
Del Horno
Crespo
Maniche
Diarra
Obviously Chelsea's got more players, they've completely overhauled their team, but Real have made a deliberate effort to buy huge name players where Chelsea have gone for more the flavour of the month... it's not been until recently when Real have tried to fix their problems and sign lesser known guys like Baptista, Woodgate, Garcia, Graveson, Diogo etc which is essentially what Chelsea have been doing all along.
That being said, pound for pound Chelsea in my opinion are the worst transfer market players in England. They have a ridiculous amount of guys playing the same positions, and they continually sign people like Maniche or Smertin who never play
