I actually thought that it felt too long, but not really because of the length...but, rather, because they seem to be playing fewer games. It would probably feel a lot better if they squeezed more shorter games in per segment than playing fewer longer games...it started to grow stale quickly.
To me, it feels way too much like a stage show, with TV cameras set up to record it, and not an actual television show...that is largely due to the terrible editing. (I really wonder how these professional editors ever get hired half the time...it seems half every television show is edited/directed terribly these days...) That might be the direction they're going for, but it really doesn't come off well on television...if they did without most of the cuts to the audience (especially during the actual games), it would be a lot better...that, and having proper intros/outros to commercials as opposed to awkwardly fading to black in between games and continuing right afterwards would help, too.
Overall, it has potential...but it needs some work in order to be truly great. It was, however, nice to hear Rich Fields introducing the stars and the day's special guests...I wonder if they'll ever find a way to get him involved in a game from time to time...that might be cool to see.