In my opinion, this is one of the series' all-time best episodes. The action is in the girls' apartment the entire time (except the end, which ties the whole thing together) and it never gets boring. So many things are happening at once...Monica is on the phone and while she starts to leave a message you get a whole story line with Phoebe and the hummus...plus the classic "Joey-being-Chandler" line, "could i BE wearing any more clothes??" The episode is neatly wrapped up at the end when the man at Ross's benefit dinner argues with Chandler over sitting in the chair to which chandler replies, "alright, gimme your underwear."
Classic. No other words apply.