While I have not been a fan of anything Ferrell has done since Step Brothers, you have to appreciate his energy and his dedication to his comedy, even if it is subpar at best. I appreciated the cameos as well, except for Justin Bieber, but the material just was not there. I cannot cite a single sketch that I enjoyed, a rarity even for this show in 2012.
Will Ferrell's getting old and that has to be accepted. It seemed like he was playing the same character over and over again. The skits were trying to do some new stuff which I respected but none of them are really going to start an ongoing skit. My favorite part was most likely when Andy Sandberg was impersonating Nicholas Cage on the news segment.