I've waited to say what I think of the show because I went back and watched every show again up until now. Here are my thoughts.
The writing has taken a step back from season 1. I think the Nick was going for a real stylized noir setup. It's not as bad as Deadwood or John from Cincinatti but there is clearly a pattern. But the lines are a little stilted and off putting, I was willing to let it slide as just a part of the show gaining its footing but I think it will be like this the rest of the season.
As to the acting. Obvious Colin Farrell has been terrific, he plays Ray Velcoro with a great bitterness and a greater pain underneath it. He took what could have been a cliché and elevated and yet he still manages to have an acidic sense of humor while doing it all. He's the MVP of the season as far as I'm concerned. Rachel McAdams would be my #2, I kinda questioned her acting chops especially since she hasn't done a lot high profile dramas but she has done a great job as Antigone, she has more 'balls' than most of her male counterparts and is incredibly cynical but she's been great. Taylor Kitsch has done well also in my opinion, he has had moments of brilliance but he has been saddled by the bad writing, the directors have kinda forced the gay angle and now he has to roll with it without the mystery or subtlety of earlier episodes. Now I know everyone is hating on Vince Vaughn as Frank but I think he kind of broke out this past episode, he has to deal with the worst writing and directing and I think he has done better than expected, especially when you can kind of feel the desperate situation he is in.
I think it's difficult to expect the same level of performances as last year, Mathew McCaughnohey has been on a roll for at least 3 years, and Woody Harrelson has been criminally underrated his entire career, and season focused essentially on 2 character. This season you split the focus and have to develop 4 characters. Not an easy task. More with actors that have somewhat maligned their whole careers.
I kinda feel this coming episode will set the tone for the remainder of the series.