This season so far is not just due to the "woeful points totals of pretty much every team (especially United/Chelsea)." It's also partly due to the fact that Leicester and Spurs have been playing very well.
I'm challenging "near perfect" as an accurate description of the correlation between club-spend (wages and net transfer spend) and league position. I've cited 3 anomalies already, but there are dozens more. Newcastle is just one of them, QPR have been another, as have Villa, Sunderland etc etc.