I'm completely rewriting this. After watching the episode two times more since the sixth, I've grown to like it.
My original thoughts were that they're recycling plots (with a total of 40 episodes) from the first season. This was similar to the episode with Marla, and what's worse, the ending seemed very off and didn't accomplish much.
First, the subplot. Ended up being a long tangent, and we never found out what Pim's plot was. That in mind, Amy and JP Manoux are developing great on-screen timing. Amy in particular can deadpan lines perfectly, and it ended good.
Now, the main plot. Grace -was- looking at Grady to kick off the episode. Overlook that though, and the swerve (that they ruined all week in promos!) was great as she never did say it was Grady. I wish they went with what I was thinking for this episode, where it turns out that Grady likes Keely and Grace like Phil. And Keely/Phil need to help each other out to get out of it. After that, you guys can write the dramatics and the soap opera ending ;)
Ricky does a dead-on job of portraying Alyson as a guy. Mannerisms, voice, clapping... so funny. I couldn't resist laughing hard as he put his hand up to Grace's face, saying "smell like anything?" :D Another solid performance for an episode that wasn't even really about him even after the mid-episode plot twist.
Alyson had to drop that clichéd line about "two people who are meant to be together but are too clueless to do anything about it" TWICE. We get it. I'll let it go on account of how cute she looked. The outfit changing fit well, and the running joke of how she ruined those kids' lives two years ago coming in at all the right times kept me amused, but overall she floated into that crazy gossiping blonde personality too much for my liking. Cute, yet still very devious and too love-struck with a scenario that had nothing to do with her.
And the ending. Wow. AGAIN they could do a lot with more dialogue. They always do the less is more approach to a Keely/Phil ending and the lines just don't say anything. Phil coming back from Keely's line about the stars with "yeah"? I know it was to set up the mutual looking-at-each-other-and-looking-away bit, but they proved in the opening scene that that meant nothing. They were still as natural as can be which it what I truly love about this show... but say something already. I always feel like we get the cliffnotes version of what the conversation would really be like. Cute-awkward for 30 more seconds would have been gold here!
Overall, better than I originally thought. We're aware they both like each other though... that was taken care of in season 1. Introduce more to it! Christmas Break and Time Release Capsule remain my favorites because of what we learned..