Ok, first things first:
(Why can't I find a ponified one?)
Now that's out of the way, have some hastily thrown together thoughts on the new episode:
Edit: Almost forgot, THERE BE SPOILERS HERE
I thought the new episode was pretty good. I actually got to see it streaming for once, but unfortunately I missed 30 seconds of it due to some weird ad. I didn't expect Spike to grow due to greed, and I didn't expect him to destroy things willingly. I'd expected him to grow really huge by accident and for him to break things out of clumsiness, but I prefer the way Studio B handled it.
The humour was pretty great throughout. I especially liked the scene with Applejack ("Twilight… get my rope"), and pretty much every scene with Fluttershy. Twilight was a good laugh as always. It was good to see Zecora getting some more screentime, and I noticed some pretty awesome background pony shenanigans too (at one point you see Lyra chatting up Bon Bon, and Derpy pops out of a flowerbed behind them).
So, are the Wonderbolts supposed to be some kind of military unit in Equestria? I would have thought the Royal Guard or Celestia herself would be sent to handle a rampaging dragon, not a bunch of trick fliers.
Does this mean that Spike will never grow up? If a dragon's size is determined by it's greed, will he could stay a baby forever? Or does greed simply accelerate growth? So much unexplained…
I saw the ending coming as soon as Zecora explained the problem. I still like how it played out though. The scene where Spike and Rarity were falling through the air almost put me in cardiac arrest, and I'm pretty sure I'm now diabetic. It was possibly more d'aww than the scene with the drawing in Sisterhooves Social.