He's great, the show was interesting. I saw him demoing this material in Edinburgh last summer and some of it has been worked up well, some of it hasn't transferred to TV. The cut aways to sketches weren't strong enough in the main, so it will be interesting to see how it develops.
The calibre is definitely there; Lee is an exceptional live performer, and with Ianucci and Morris in control and with Munnery, Eldon, Law, etc pitching in it could be interesting. Stewart Lee could be the Dave Allen for the twenty first century if he concentrates on his game.