Not really, but it should have been. As a five part series finale this could have been the most awesome thing ever, but as a two part season premier, not so much. One hour of material was crammed into 22 minutes of show and with predictable results. The most powerful villain in the world was defeated in a deus ex machina way and turned back into stone as if that were the default setting of the Elements of Harmony.
Luna didn't appear (although Derpy was in the crowd at Canterlot). She was banished for 1000 years, but that wasn't punishment enough, so she was banished for the rest of Season One and the start of Season Two - the most siginficant event in the history of Equestria. Some ponies can't catch a break. She and Celestia just sat by and did nothing while Discord was on the loose? They could have at least helped (in a way other than returning Twi's letters).
If Twi could use her magic to undo Discord's negative effects on her friends why didn't she do so in the beginning? It would have been better if they had to overcome their changes with at least some struggle, if not two additional episodes worth. Part one seemed to be building up for something that never happened.
Now that the Mane 6 defeated Discord who would ever oppose them? They've only saved the very fabric of reality, they should be heaped with praise, their every whim delivered. You want everything for free for the rest of your life? No problem, you only saved reality. How could they possibly get repaid? I'm actually disappointed by this turn of events. Where do you possibly go from here?
The whole Cutie Mark Crusaders subplot was never resolved. It was just dropped like one of Discord's many non sequiturs. Were they there to demonstrait something? Were they there to serve as foreshadowing? Did their petty arguing actually free Discord? The world may never know.
This episode tried to be the greatest thing ever but was left wanting.
That's not to say this episode was bad, merely rushed. I would have to give this episode a comparatively low rating of 9.0 (out of 10.0). Not bad, like Over a Barrel, but not fantastic like Suited for Success or The Cutie Mark Chronicles.
Some very good parts of this episode include:
*Derpy was there, although she wasn't derping
*EVERYTHING about Discord
*Mean Fluttershy standing up to mean Pinkie Pie (at least somepony did it)
*Twi's balloon is back!
*When Discord fills the glass with chocolate milk he fills it from the top down, then drinks the glass and throws the glass-shaped milk away! And it blows up!
*The way Discord sits on his throne (see top picture)
*Twi handing out all the EoH necklaces and when she comes to her own she calls it a "big crown thing"
*Spike is the new Rainbow Dash
*Applejack eating apple cores and they get more complete with every bite
*When the Mane 6 originally attacked Discord with the EoH he puts a bullseye on his chest
*When they attack Discord the second time he says "friend me"
*Discord saying to Twi "Maybe the magic of friendship can help you."
