No, I don't think a side that won the treble in 99 would qualify for the CL. They weren't head and shoulders above anyone and weren't the best team in Europe that season either.
Winning a CL doesn't denote that. Look at Liverpool in 2005 or Chelsea a few years back, neither finished top 4 in the league.
Playing a 442 every week with that team they'd get twatted on the break to the likes of Palace, Arsenal, ourselves, West Ham and even the current United.
As I say, it's a different age now and they wouldn't be anywhere near as successful with that set up.
As for pissing the league, you're having a laugh.