This episode was disturbing, unpleasant, hardly funny, and had no redeeming qualities at all. There have been lame episodes before, but this is the first time I have genuinely disliked an episode.
Jerry throwing away all his stuff was idiotic and insane. His couch cushions? C'mon!!! Not to mention that stuff about giving his girlfriend bleach. I know someone who drank bleach and she was coughing up blood and tissue. Not a laughing matter.
The shot of the keychain flying into the air was well done, but the talking keychain itself seemed gimmicky and only marginally funny.
Elaine is stupid too, as someone else mentioned, she could have gone to pick up the food from the restaurant. She did look good with that cap on at the end, though.
Kramer has devolved from being wacky to being an utter moron. I was afraid he would cause a pileup on the highway or something. The cruel ending, putting the unsuspecting (in this episode, anyway) Newman in a painful and deadly situation like a burning mail truck was not funny at all, no matter how you look at it. He came out of it looking like a cartoon character. He's Newman, not Wile E. Coyote, for crying out loud.
The plots were lame, Jerry was crazy, the end was mean. I have to say this is the worst episode I've ever seen.