The sales of Lavezzi and in particular Ibra and Silva to Ligue 1 are very disappointing, never before have the best players from Serie A left to go to France. Still not a clue why Milan sold them two and they're still being stingy and looking for cheap deals, stuff like that doesn't help the league overall.
But I'd say Serie A is still pretty strong overall. Milan and Inter need to improve big time though, I can't remember their squad's being so weak.
The vast majority of the Italian national team who performed so well at Euro 2012 play in Serie A so there's plenty of home grown talent too in the bigger teams which isn't the case for every major league.
Edit - obviously Serie A is nothing like it was in the late 90's, early 00's, when it was the place to be, but I think it's clear to everyone there's been a decline since then. The 'seven sisters' all had such amazing squads back then, Serie A was at its peak.