God, I hate Holt SO much, so this episode already had that working against it. Although, I loved how naive Tim the Bear was about the Holt/Colt charade and I loved Lester's attempts to knock him out. The B-plot didn't do much for me, which surprised me. I do appreciate them trying to intersect it with the main plot, though.
Got some chuckles out of Cleveland and Holt's love of theater and the ending "Nobody Learned Anything". This actually turned out to be one of the better episodes of the season, which I realize isn't saying much, but it's at least a glimmer of hope for this show.
I'm okay with the teaser and the plot. Add me to the "wow..looks better than I ever thought it could be" camp. But they could've picked a better name for the opponent.