The season finale, twice the normal length, could be forgiven for making some mistakes. After all, it has to connect the dots that were laid out during the season and keep the laughs coming for double the normal time. (Look at the quality of feature film comedies to see how difficult that can be.)
I had the feeling that an episode overran and so they made it a one-hour show. A lot of the successful moments of this one are directly derived from the Mel Brooks musical. Apart from the lengthy musical numbers (which Larry does reasonably well) the plot of Brooks trying to sabotage his own show, is the plot of The Producers. The scene in the bar with Anne Bancroft is practically literally taken from the show. When you take all these things out there is only the bit about Schwimmer's watch (which I found cringeworthy) and Larry's problems with OCD and tips. The latter I found the highlight of the show because I too have faced the incomprehensible American system of tipping.