First of all, I am not a fan of many flashback episodes, but they did this with a new twist and made all the material new. It's nice to know that Frasier hasn't forgetten it's own saga as they basically review the timeline while simultaneously giving us a few more anecdotes that we can inject to the past.
Yes, those wigs are terribly innaccurate (seeing as Roz nor Daphne NEVER had jet black hair) and the years are off, but it gives a general time-frame that reminds you of Frasier's history. Maybe I am unconventional, but this episode is excellent in my mind.





