Darren Anderton put us ahead after four minutes, we had the best two chances of the first half and Arsenal were going nowhere until the 68th minute.
That's when Thierry Henry, clearly offside, latched onto Ray Parlour's pass and although Kasey Keller saved his effort suerbly, Robert Pires was there to knock in the rebound.
With eight minutes left, Freddie Ljungberg cut in from the left and his 20-yarder looped off Stephen Carr, over the unlucky Keller and home.
It was so disappointing after an excellent first half display and although we didn't match that level of performance after the break, Arsenal looked out of sorts and toothless going forward until Pires' equaliser.
We could have put the contest beyond doubt in that first half. As well as Anderton's early strike, Postiga had the two best chances of the half after latching onto poor back passes from Lauren.
The goal arrived after four minutes. Konchesky played it into Keane on the edge of the box, he turned away from one tackle but into Lauren, whose attempted clearance hit the Irishman and screwed across the face of goal where Anderton cleverly flicked past Lehmann.
Keller was at his best to deny Henry twice but the next chance fell to Postiga after 24 minutes.
He read Lauren's intentions perfectly and was aided further when the defender's back pass was nowhere near it's target but having picked the ball up, never really got into position to shoot and Lehmann blocked.
Arsenal's pressure got nowhere and a carbon-copy chance fell to Postiga after 40 minutes when Lauren's back pass was even worse but this time the striker telegraphed his intentions and Lehmann made a comfortable save.
The second half was a bit of a non-event with the home fans starting to get edgy - until the equaliser.
Parlour played the ball over the top to Henry who looked yards offside but there was no flag. Keller stood firm to deny the striker only to look in agony as another Frenchman, Pires, arrived to bury the ball from three yards.
The winner came with eight minutes left. Play broke down on the edge of the Arsenal box and suddenly substitute Dennis Bergkamp was in space. He found Ljungberg who cut in from the left and saw his 20-yarder flick off Carr, loop over Keller and home.
A couple of late thrusts came to nothing and we were left with a sense of what might have been.
MINUTE BY MINUTE
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4mins: GOAL. Keane turned on edge of box, attempted clearance came off him into the path of Anderton, who flicked past Lehmann. 1-0.
6mins: Henry snapshot from 25 yards forced sharp save from Keller low to his right.
9mins: YELLOW. Parlour for late tackle on Taricco.
12mins: SAVE. Fantastic tip aside by Keller after Henry cut back inside Carr and shot from angle.
14mins: YELLOW. Konchesky for encroachment from free-kick - Henry second attempt curled onto roof of net.
20mins: YELLOW. Anderton for foul on Cole.
24mins: CHANCE. Postiga onto Lauren poor back pass, didn't seem to get ball in position to shoot, Lehmann out to smoother chance.
25mins: YELLOW. Richards for foul on Henry.
26mins: Great defending from Anderton to deny Ljungberg a tap in at far post.
38mins: Parlour shot always going wide after spell of Arsenal pressure.
40mins: CHANCE. Amazing carbon-copy of earlier chance, Lauren weak back pass intercepted by Postiga, but telegraphed his intentions one-on-one and Lehmann made easy save.
42mins: Kanu 25-yarder flew a yard wide.
Half-time: Arsenal 0-1 Spurs
46mins: Dalmat and King combined on edge of box, King cutback to Postiga cut out by Lauren.
49mins: YELLOW: Taricco for foul on Ljungberg.
49mins: Gardner alive to clear loose ball from dangerous Pires free-kick.
60mins: SUBS: Cygan and Bergkamp for Gilberto and Lauren.
65mins: Henry away from Dalmat and King but lashed shot over.
68mins: GOAL. Parlour sent Henry clean through, Keller saved superbly one-on-one but Pires was there to bury rebound. 1-1.
72mins: SUB. Mabizela for Konchesky.
78mins: GOAL. Play broke down in our possession, Arsenal break, Bergkamp in space in midfield found Ljungberg, cut in from right and shot deflected off Carr, over Keller and home. 1-2.
82mins: SUBS. Ricketts and Zamora for Dalmat and Postiga; Edu for Kanu.
Line-ups: Arsenal: Lehmann, Lauren (Cygan, 60), Cole, Campbell, Toure, Pires, Ljungberg, Parlour, Gilberto (Bergkamp, 60), Henry, Kanu (Edu, 82). Subs: Stack, Hoyte.
Spurs: Keller, Carr, Taricco, Gardner, Richards, Anderton, King, Dalmat (Ricketts, 82), Konchesky (Mabizela, 72), Postiga (Zamora, 82), Keane. Subs: Burch, Doherty.
Referee: Mike Halsey.
A debatable equaliser and deflected goal left us deflated at Highbury on Saturday - it could have been such a different story.