The pundits and the public love playing the game of "Who won the transfer window?"
But the answer depends on how we keep the score. This window is a little different from the others as players make their living in the club game, but with the World Cup just over nine months away, the chance of glory with their national team will also be an important factor in the minds of many. Some players have clearly used this window to jockey for position at the international level, especially the South American ones.
Argentina are setting out to achieve what has never been done before: to retain their world crown on a different continent. The key to their success, of course, has been Lionel Messi. And a low point for coach Lionel Scaloni, even after giving Brazil their first-ever home defeat in World Cup qualifying, was the clear evidence of Messi's decline.
The coach appeared to be flirting with resignation late in 2023, but then he got around to planning a future in which Messi might not necessarily be the center of all things.
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There could clearly be no such thing as a like-for-like replacement for Messi. But good teams are made up of little partnerships, and the best thing about the last few months has been the emergence of attacking midfielder Thiago Almada as an important force and his link-up with striker Julián Álvarez.
In the 16 rounds of World Cup qualification played so far, Argentina's high point came in March, where, without Messi, got a 1-0 win away to Uruguay before the astonishing 4-1 demolition of Brazil. Both times, the Álvarez-Almada combination was fundamental. Now that Almada has swapped Lyon for Atlético Madrid, the pair are together every week.
There has been no dream start for Diego Simeone's side as in the opening three rounds of LaLiga, they've endured one defeat and two draws. But every match strengthens their understanding further in the run-up to the World Cup.
Replacing the immense talent of Ángel Di María is another challenge. Going into the qualification campaign ,the most likely player to succeed him appeared to be Alejandro Garnacho, with his pace and his one-on-one ability. But he has made just three substitute appearances in qualification, the last one in November.
He had appeared to run into a brick wall at Manchester United. Garnacho's new club Chelsea have so many players that it is not clear how the 21-year-old will fit in. But a fresh start could give him the boost to get back into international contention.
Some players, meanwhile, might see stability as a virtue. There was speculation that Cristian Romero might be seduced away from Tottenham Hotspur, to even to join up with Simeone and company at Atlético Madrid. But with the center back set to be even more important to Argentina than he was in Qatar, he saw wisdom in staying put at Spurs, where he has been made club captain.
Meanwhile, the big dual transfer involving Brazilian players did not happen, and both ended up staying put. Real Madrid's Rodrygo and Savinho of Manchester City were regulars in the Brazil squad, and usually in the starting lineup.
But both have been left out of Carlo Ancelotti's first two squads. There was considerable speculation that Rodrygo would move to City, and in turn Savinho would join Spurs -- with both players enjoying elevated roles with their new clubs. But though he does not seem entirely happy in his current surroundings, Rodrygo chose to stay, and there could be further progress in the January window.
Antony, meanwhile, has both moved and stayed. Manchester United have taken a massive loss and allowed the winger to continue a Real Betis, where he enjoyed something of a rebirth on loan in the second half of last season.
This is very good news for his international ambitions. Ancelotti is an admirer and surprisingly named the player in his first squad back in June. He has been left out for this week's matches, but he will now be getting a regular game in a club where he is clearly happy.
The race to be Brazil's center forward is also heating up. João Pedro gained an immediate benefit from his move to Chelsea, coming off holiday to play a hugely impressive part in the FIFA Club World Cup triumph. It did wonders for his profile back home and considerably improved his chances of getting a regular game for Brazil.
Matheus Cunha has also made a big move. A star of the Brazil Under-23 side that won the gold medal at Tokyo Olympics in 2021, he was unfortunate not to go to Qatar. Even in their current turmoil, Manchester United gives him a platform and a visibility far bigger than Wolverhampton Wanderers or any of his previous European clubs. He was also in contention for a Brazil place in the next few days, until injury forced him out of the squad.
Cunha's replacement is very interesting. Ancelotti gave a late call-up to Samuel Lino of Flamengo, a player who just a few months ago was an unknown to most Brazilian fans.
Lino is one of an increasing number of Brazilians to have made almost their entire careers in Europe. But, flushed with money from the Club World Cup, Flamengo signed the left-sided player from Atlético Madrid, and at the end of an impressive first month with the Rio giants, he has already gained international recognition.
He is not the only one to see the benefits of playing for a big Brazilian club.
Palmeiras were chasing playmaker Andreas Pereira for some time. In the previous transfer window, he did not seem interested. He hoped that if he were to leave Fulham, it would be to a bigger European club. He has now changed his mind.
With an extremely strong squad, Palmeiras are fighting to win both the Brazilian Serie A and the Copa Libertadores. Pereira has not been seen in a Brazil shirt since scoring a superb goal against Peru back in October.
Palmeiras can help him get back in, but next year would appear to offer the 29-year-old his only chance of playing in a World Cup, and this surely has had an impact on his decision to cross the Atlantic.
Plenty of Colombians are also hoping to boost their World Cup chances by trading Europe for Brazil. The Colombia side is in a state of flux. They will make sure of a World Cup place by winning at home to Bolivia on Thursday, but morale is low.
After a long unbeaten run ended with defeat in last year's Copa América final, coach Nestor Lorenzo's team appears to be undergoing a crisis of confidence. There have been no wins in the last six games. And the model of play -- James Rodríguez plus two strikers, with a disciplined midfield trio supplying balance -- appears to be wearing thin. All of this means that places are up for grabs, and some of the fringe players have clearly seen the opportunity.
The most glamorous is Jorge Carrascal, a potential alternative to Rodriguez in the playmaker role, with two starts and six substitute appearances in the current campaign. He has swapped Dinamo Moscow for Flamengo. It may have increased his visibility, but in the deep squad of his new club, he faces a challenge getting time on the pitch.
That should not be a problem for classy center back Carlos Cuesta (four starts and a substitute appearance in the campaign), who, after an extended spell in Belgium, now swaps Galatasaray of Turkey for relegation-threatened Vasco da Gama.
He joins another recent signing, winger Andrés Gómez, once of MLS and more recently of Rennes in Ligue 1. Gómez has made a couple of substitute appearances and would seem to be competing for a place in the squad with former Premier League winger Luis Sinisterra, who, after an injury-hit campaign with Bournemouth, has been loaned to Cruzeiro, another side in contention for the Brazilian title.
Have these players "won the transfer window?" The definitive answer will only come in the middle of next year, when the squads for the 2026 World Cup are announced.