As a short term arrangement I can see nothing wrong; Chamakh and Gervinho are off to Africa, Park seems that he’s not ready yet and Arshavin consistently underperforms from the bench. This leaves Oxlade-Chamberlaine as the only forward who has shown that he can make a contribution from the bench.
So why Henry? Simply put, he has pedigree and experience and if he has the desire (something you would think Wenger would be more than able to gauge) he would be able to contribute to the club in a number of ways. A legend? of course. A presence? definitely. A liability? absolutely not.
There are those who have talked about Henry ‘tarnishing’ his standing with Arsenal supporters. Frankly, I can’t think of what he could possibly do that would tarnish his reputation as an Arsenal player.
The broader issue is what other player/s join in the transfer window and there is a lot of assumption that Henry will be the only new face. I somehow doubt it but time will tell on that. That issue of boosting the squad with more long term acquisitions cannot be really discussed until January 1st. Regardless, Henry’s two months with us should be looked forward to rather than fearing the worst case scenario how about considering the best?