Fabregas continued his fine scoring run just before half-time, and Andrei Arshavin made it four - before Craddock headed in a late consolation for Wolves.
The Gunners captain told ESPN: "It was disappointing to concede from a set-piece like that. They played well. We were not at our best but still managed to score four."
Robin van Persie, who admitted Arsenal are hoping for a draw between Chelsea and Manchester United on Sunday, agreed with Fabregas' assessment.
"The first 20-25 minutes, Wolves were really pushing - and up to the goal, they were really committed. Then we scored another one - and the game was over," he said.
Arsenal boss Arsene Wenger was delighted to add another victory to his team's Champions League success against AZ Alkmaar on Wednesday, and feels their title challenge is firmly on track.
He told ESPN: "We conceded a goal, but overall it was a good performance. They made a strong start - but once we got ahead, we controlled it.
"I'm pleased, because we had the Champions League game in midweek and we won today 4-1.
"Our belief is there; we want to give our best in every game. We have great potential and we can go from strength to strength."
Wenger saw his injury list grow, though - Abou Diaby limping off in the first half.
"We don't know what it is yet. It looks like a calf strain," added the Gunners boss.