Not at all but we still lack that experience in the middle of the park and as good as Fabregas is, if some one give me a Vieira type player, i'd sell him for 30-40 million.
I think you are wrong in considering, or even having an opinion that Vieira type player would be better than Cesc. Shocking in fact. Vieira played with great players in their prime, in current team of yours, Vieira will be another Song. IMO, your idea would lead you having two Song's (or two Vieira's) and no Cesc type player.
BTW, never understood all the hype about Vieira. Good defensive/central midfielder, but you would think there weren't others in the game close to him during that period. Let's remember that back then Premier League was all about Arsenal vs ManU, and Premier League was 3rd best league. In current Premier League, undoubtedly a better tournament, it wouldn't have been Vieira vs Keane. There is Essien, Mascherano, De Jong to name a few.
Even during Vieira's best years, Makelele, Gattuso, Davids, Baraja and Albelda were around, and I don't think they were one bit worse.