Overall, I liked it. They did a better job of incorporating schtick over quick zingers than the last time a Squares revival tried it (MG/HS) so it doesn't as directionless and meandering. The first half of the hour did go a little *too* slowly but the second half felt more substantial. I think they'll figure out a good balance as they settle in. The schtick doesn't bother me because it meshes well with this environment; I'd contrast that against Jimmy Fallon's antics on Password, which got so bad they drove me to stop watching.
Nate Burleson is an okay host. If the goal of the show is to have the celebrities messing around with the game as a secondary thing, he manages that fairly well. He doesn't come across as obviously overwhelmed as Jon Bauman did - I know that's damning him with faint praise, but he works.
Drew Barrymore's role is indeed a little confusing. They seem to be doing something similar to when the John Davidson version would put Shadoe Stevens in a square, but I don't understand why they have a guest celebrity do the intro only for Drew to do everything else the announcer would typically do.
Audio/visuals are pretty much flawless for me. The return of the classic Marshall theme was an absolute surprise of the best kind.
Overall I think I grade it a solid B. It looks and sounds great, has a capable host, and is enjoyable as a sort of "celebrities hanging out and casually playing a game at a party" type of show. It could stand to figure out exactly how much gameplay it wants to balance with the schtick, and have a clearer idea of what role it wants Drew Barrymore to have.