state of the art...

youth facilities!

Just managed to get this - is this the top level? And what is it going to affect? quality of regens or quality of training? BOTH?

It will affect both, but you still need a combination of good coaches, playing time and luck to get the best out of them.

A youth acadamy also helps

state of the art typically means top level...

Yes it is the top level, and what MaxwellHammer says.

good times are here again...

wonder if i can get some quality players coming through my arsenal ranks in a similar mould to remi garde or perhaps even the great steve morrow!

You have the best youth facilities available, but don't expect a huge difference. As Arsenal, I doubt your facilities were poor to begin with, and despite having top notch facilities, you still can't turn a tricycle into a Lamborghini. There will be a slight increase in quality, but you may not notice it too much..and luck still plays a part, so it's still possible to get worse regens than the year before.

I hear ya Rohkey...

Not had a decent regen of my own since the start of this save. Always have to poach them from elsewhere!