Nah we break the record back then to sign him after his impressive scoring record in Newcastle (41 goals in a season), but he never quite managed to repeat near to that when he was in here. We even sold Hughes to accommodate him here, and let him start most of the games, and bench club legend Solskjaer. But he was frustrating to watch in his first few seasons here, squandering chances after chances (I sometimes wonder Cantona might have double his assists numbers if we don't have Cole up front) He did form a formidable partnership with Yorke though, and improve his overall game in later years though, so I think he did alright overall, but he was never quite near the level of best striker in the league in his time here. He is kind of like Lukaku for us - big price tag, but not what we may have expected, but still top goalscorer for us for a few good seasons, but never quite the best striker in the league.
If we rate our main striker/forward generation by generation in past 30 years (Hughes, Cantona, Cole, Yorke, Ruud, Ronaldo, Rooney, Van Persie, Lukaku), then I'm afraid he would be near the last at the pecking order.
Tier 1: Cantona, Ronaldo
Tier 2: Ruud, Rooney
Tier 3: Hughes, Van Persie, Yorke
Tier 4: Cole, Lukaku
I rate Van Persie and Yorke higher than Cole, even though their time here was short and brief, their impact on our success was bigger. To be fair Cole has about 3 really good seasons with us (especially his partnership with Yorke), but he also has about 3 or 4 bad and disappointing seasons here too.