Jay, for me, is vastly overrated and is not very technically gifted at all. I don't see him as an upgrade at all - we may as well have kept Siggy if we wanted an average player who can score goals.
Schneiderlin I rate really highly, but I'm a bit disappointed that we are chasing him when we already have so many CMs that you would think are capable. Capoue could play the Schneiderlin role in my opinion, and could be a lot more imposing in that position due to his physical attributes.
I'd much rather we went after a crafty left winger who fits the bill along with our other technical players, as well as a solid (possibly starting) CB.