Ah, I almost forgot what Mad Men usually feels like. Relaxed and masterful. The previous episode was anything but, it was unusually dramatic and felt like a very different, but still good, show. This episode is more typical of Mad Men.
I think the writers knew that "Guy Walks" was not really what Mad Men is usually like, so they needed to slow things down in the next episode to give the viewers a chance to breathe. And, they really slowed things down.
This is a great episode, but think for a moment about what it's really about. There are three main plots. The first is the company trying to get Don to sign the contract. The second is Duck pursuing Peggy Olson. The final is Betty deciding what to do with her living room. That's right. The only one even close to exciting is Peggy's.
And yet, the episode still works. Sure, it's slow, even for Mad Men, but is skillful. It's precise. The writers and director really examined what they had to do, and you can tell they settled for nothing less that perfection. Now, if the show can apply this level of skill to a more interesting plot (rather than it being one or the other usually), then we'll have some real magnificent episodes on our hands.
It's not as good as the one before it, but that's one hell of a tough act to follow.