TBS just finished up a heavily-promoted marathon where they ran the entire first season back to back for 25 hours. I agree with critics I've read who say that this show should not be binge-watched. You'll have a hard time finding someone who loved Police Squad! more than me, but marathoning ten episodes was too much.
In appropriately small doses, it's almost perfect. Unless you hate this style of humor...in which case, you'll hate everything about the show. The sight gags, the word play, the spoofs, it's everything that was promised. Jere Burns and Alfred Molina steal the show. Rashida Jones does OK, but I think the lead required someone more deadpan.
Season 2's ten episodes will air in a regular, weekly timeslot beginning next Monday. Or, as the press release puts it, Seasons 2 through 11's one episode.