With other networks afraid to take a risk and put Mixed Martial Arts on in primetime CBS took the chance and found great success (the first episode anyway). While EliteXC doesn't have the best roster they do have some quality fighters like Robbie Lawler, Jake Shield and KJ Noons, who are all Champions in their respective divisions.
EliteXC needs to decide whether or not they want to be a top MMA promotion or one that draws fans, because you can't be both and try to compete with UFC. Kimbo Slice vs. Ken Shamrock will be a huge success in the ratings I'm sure, but neither of those athletes are considered near the top of their division.
EliteXC Fights is entertaining, but it certainly is not the best MMA product out there.