This ep ran in syndication last night[1]. Some thoughts/reflections:
I remember seeing this ep when it first ran (premiere episode of Season 2), and being very disappointed with it then. It has since grown on me, and is probably in my top 10 or so episodes now. It's certainly not a perfect episode, but very funny and well done.
Obviously, Joey and Chandler (once again) nearly steal the show from the Ross/Julie/Rachel storyline. MP not only delivers some gut-busting lines extremely well ("You have to stop the Q-Tip when there's resistance!"), but really nails the facial expressions and postures just right. Watch the scene where Ross and Chandler are explaining to Joey that his tailor is indeed "a very bad man." MP's looks and body language are great, and don't need any lines to be funny. DS/Ross has limited interplay with C&J, but does well and the dynamic is good.
Phoebe and Monica have a pretty funny subplot here, too. I love how Phoebe tries to protect herself and Monica by pretending to be controlling and anal. While it played for humor, it really revealed how the characters know each other's weaknesses but still love and accept each other. Phoebe's faux-medical description of Monica's hair (and her slideways slam on Ross' hair) was well-written and executed.
For me, the weakest part of the story is the whole Ross/Julie/Rachel thing. When it first aired, I was peeved at the introduction of Julie. I did, and still do, see it as an artificial way of prolonging the whole unrequited love thing. I must admit, however, the writers did do a good job of foreshadowing it and even made Julie's history believable in regards to her and Ross hooking up. (Anyone know if the writers planned that story arc?) And, while I growl at the seemingly unnecessary friction and angst Julie gives to the show, this allowed for some great episodes in Season 2 (TOW Ross Finds Out, TOW The Prom Video). And JA shows some great comic and acting ability here, with her frustration in the situation. The scene where Ross is getting all mushy with Julie on the phone right in front of Rachel shines -- Rachel flipping the magazine pages angrily, making mocking faces and voices, and finally hanging up the phone!
All in all, a very successful episode in regards to comedy and interaction. I think it's biggest weakness is there's no real movement in regards to the characters, but it's funny enough and well-done enough that that's OK.