Arsenal tend to do reasonably well - and sometimes, extremely well - in FA Cup competitions.
So, while I'd prefer fewer distractions (on the lines of Europa Cup, or the League Cup/Carabou Cup which we are well out of), I'm more fine with success of any sort in the FA Cup; it is an old, venerable competition, both lobed and respected, and I've always liked it.
Moreover, I still find it difficult to forgive Manchester United for their arrogance, when (in 1999-2000, I think,) they declined to enter the FA Cup competition.