Any remaining sceptics that question the appeal of the English cup competitions should have been won over by the scenes at Anfield this week as Liverpool first held off Manchester City to book their place in the League Cup final, then dumped Manchester United out of the FA Cup. Jubilation, hope and pride all filled the stadium; Kenny Dalglish could not stop beaming and a first major trophy since 2006 moved within reach.

So, yes, the cup competitions matter. But Liverpool would be wise to remember that two important results and one trip to Wembley cannot paper over the cracks that have emerged this season. Sure, the deck has been stacked against them at times with injuries to Steven Gerrard and Lucas as well as Luis Suarez’ ban – however, after spending more than £100M in the calendar year of 2011, Premier League progress has been minimal. And the recent 3-1 defeat at Bolton Wanderers just hammered home this point.

The Liverpool players seem to have no problems raising their game against the top sides, but there has been little consistency during the campaign. Careless draws at home, too many squandered chances and a lack of cutting edge have made a title challenge impossible. Even at home to Manchester United on Saturday, Dalglish’s men had just 43% of the possession and benefited from their opponents’ own lack of creativity in the final third as well as errors from Spanish shot-stopper David de Gea and experienced full back Patrice Evra.

The statistics do not lie. At the same stage of the previous campaign, Liverpool had just 26 points and found themselves in the bottom half of the table – but this latest Dalglish era was only just beginning. The Dalglish factor propelled the Reds to a final tally of 58 points and sparked optimism that Liverpool could be title contenders this season, with a Champions League spot sure to be secured at least.

Remember, Dalglish strengthened the 2010/11 squad by buying Stewart Downing, Jordan Henderson, Charlie Adam and Jose Enrique, in addition to the arrivals of Suarez and Andy Carroll last January. It is easy to see why Liverpool had high hopes that they could at least leapfrog Arsenal and Tottenham Hotspur. But the players have been reading a different script.

A record of nine wins, eight draws and five losses at the 22-game mark of this campaign does not represent much progress. By these numbers, Liverpool would be projected to finish with 60 points, a meagre two-point jump from last year. And that might be a generous assessment given the upcoming clashes with Manchester United (at Old Trafford), Tottenham and Arsenal.

A lack of confidence is certainly a factor, with the jury still out on Downing and Henderson, and Carroll – who had another poor afternoon on Saturday – feeling the pressure that comes with goal droughts and a hefty price tag. The trio have combined for a meagre three league goals and just six in all competitions. Indeed, Liverpool’s goalscoring record in the Premier League is woeful, with only 25 scored in 22 games at the time of writing. That is 15 less than Chelsea, 29 fewer than Manchester United and a whopping 35 below Manchester City’s total.

Dalglish has been blunt at times in assessing his team’s setbacks, particularly after watching his players underperform at Bolton. “If that’s the level they expect this football club to play at, they won’t be here long,” he said. “If you have pride in yourself and in the football club that reflects in the effort you put in. I don’t know where that attitude came from but it needs to go quickly.”

His words have prompted an impressive response but the outburst may have come too late to salvage much from the Premier League campaign, given that the Anfield outfit sit seventh, trailing fourth-placed Chelsea by six points. Liverpool need Champions League football in order to take the next step towards worrying the title contenders- and that looks unlikely to arrive this season.

Having said all that, the League Cup final against Championship side Cardiff City on 26th February gives Liverpool the chance to secure the first silverware of the season – and both Manchester clubs are now out of the FA Cup. Just ask Manchester City what a cup triumph can do for building a winning culture and improving future league form.

However, regardless of how Liverpool’s cup adventures turn out, major questions must be asked about their league form – and whether certain players are good enough to spearhead a title challenge. After all, it is all too easy to get carried away with cup results. On this season’s evidence, Dalglish’s squad is not currently good enough or consistent enough to claim a place in the top four, meaning that there is plenty work ahead on the training ground and in the transfer market.