One of the great things about this episode is how Rachel discovers her developing feelings for Joey. (And it's unfortunate how it didn't play out very well by the end of the season... it just didn't feel natural at that point. But it does here.)
Monica and Phoebe's story, while hard to watch, (because it's always hard to watch the friends have a significant fight) feels real and true to their characters. It wasn't as funny as it could have been - some of the writing fell flat to me - but it doesn't feel campy or forced.
Ross and Chandler's storyline was very funny (and produced some great bloopers!). But I found it very unrealistic that Chandler would be willing to pay $600 to stay there after their recent money problems.