As things played out the fact is that the Luftwaffe failed to gain air superiority, a pre-requisite for an invasion attempt and therefore failed strategically.
Tactically the issue was undecided. The RAF refused to be drawn into a fighter v fighter struggle and concentrated on attacks on the bombers, which were the only thing that could do damage. Dowding carefully managed the strength and fighting efficiency of the RAF by holding units back and rotating units out of the southeast sector.
Now the big "what if" -- If the German forces had decided to attempt an invasion and if the Luftwaffe could prevent the Royal Navy intervening then the RAF would have been forced into a fighter v fighter conflict for air supremacy over the channel coast. Things may then have gone very differently.
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