It stinks of a midtable nothing season to me, the players and management aren't bad enough to be in the relegation fight group. However, a points deduction could very easily pull a midtable team in to the bottom 3.
The big worry is next season though. It's doesn't matter who's managing us, we're not going to be able to afford or attract decent players, and anyone who has a decent year this year will want out of a club in decline (and rightly so).
How we've managed to get in this situation is absolutely beyond belief. To have those three years in the Premier League after being a League One club, and not having anything at all to show for it, is almost criminal.