I don't believe he's uber talented
I don't believe he's a point guard any more than Iverson is
and I don't believe he makes a basketball team better
I also think he's a douchnozzle - long before the gun incident
I don't see how you can deny he's uber-talented. He's a good scorer, better-than-average passer, and does a better job on rebounding than many who play his position.
As for not a point guard - granted, he's a primary scorer. In that regard, he's no different than Tim Hardaway or Steve Francis - both of whom played point guard for their entire careers.
I do believe he makes a basketball team better, as was evidenced by Washington last year vs. Washington 2 years ago. At the very least, his absence makes his team worse.
As for the douchnozzle debate, that one, I'm going to have to concede to you. Especially considering the size of his contract. Let's face it - if a stupidity tax was put in place, Arenas would be one of the big payers.
That said, on the court, the guy can flat-out play. I'm not particularly fond of his style, nor am I convinced that it's the best way to run a team by having your point guard be your primary scoring threat. But the talent is there.