This episode had no grappling effect for the first half, but once the second half kicked in (starting with the walkie-talkie scene), it's a hard and desperate attempt for laughter.
I agree with thefanof's statement of ripping off from Curb Your Enthusiasm, it's a near carbon copy of the scene in "The Therapist". Both ways, however, it would get a chuckle or a laugh.
I also agree that the Greg/Murray storyline was a weak one which was nearly the same as the Prime Minister/Paula storyline.
This episode tried really hard to make people laugh, The 2nd song's lyrics are very similar to the style of Prince of Parties, and the lyrics are the only saving grace of the song. (though this was taken from their live performances, another saving grace. Ok, so there are 2 saving graces...)
I'm being less hard on this episode. It may just be me, but it might take multiple views to truly appreciate the episode. But at least this is better than "Murray Takes It To The Next Level".