I loved the episode... how ingenious! My favorite part... Jerry says "God bless you" to Elaine, you see three seconds earlier and Elaine sneezes. What a funny way to take advantage of the backwards thing. Second favorite... Jerry discovers cereal in his drawer, you see (whatever) minutes earlier and Kramer is cleaning, with his arm no less, his spilled cereal into the drawer. Totally pointless moments, but very funny and creative. This episode will surely go down in the "Seinfeld Hall-O-Fame" for me.
My grade: A+