Ultimately, I feel like Moffat's mysteries usually work about as well as the other episodes but have more style and humor to carry us over the inconsistencies, plot holes and stupid elements.
Yeah, that's pretty much how I feel about it. Well, that and they're also somewhat cleverer, despite their inconsistencies. Molgravia had a lot of clever turns and twists as well as stupid moments; Baskerville had far more stupid moments.
I liked the first half of it fine, I thought the character moments worked well and it was all good fun; I also liked the shots of Dartmoor and all that. Then, once the real story of the hound got going... not so much anymore. That said, I still enjoyed it all in all.
If it had been the first episode of the season it would have been fine.
Yeah, the first one was certainly a hard act to follow. I feel similarly about this one as I did about the second one of the first season, that didn't impress me much either.