Steve Pizatti is the only original host still standing after two seasons. The first season was dismal, the second season was pretty ordinary (though, improved). But this season they've finally got the mix right!
Shane Jacobsen owns it! He was a little shaky in the Ashes Special, but soon found his way up to a great standard by the second proper episode (V8 on the Loose).
After being sadly disappointed by the first two seasons I wasn't going to bother with this one. However, with little else interesting me on the other channels, I gave it one more shot. I'm glad I did.
If you're giving it a big miss based on the first two seasons I recommend you give it shot. I'll bet you'll be pleasantly surprised with the improvement.