This series has had ups and downs as it has gone along, with arcs that have made this title seem like a cheap cash-in on the Fables name and others that seem far more relevant and add to the Fables-verse. This arc certainly falls into the latter category, and it plays up more of the humor that has been prevalent in the best storylines in the series so far. The issue manages to juggle several different plotlines, and I didn't feel like I got cheated out of anything good. The last page is a doozy, with an image that is definitely inspired by a familiar nursery rhyme.
Bill Willingham and Matthew Sturges have changed the storytelling approach a bit in this arc by shifting the narration from Jack to Eliza Wall. That shakes that gimmick up by giving us a new voice, and I think it will probably freshen up Jack's inevitable return to narration. Russ Braun has been a solid addition to the Jack of Fables art team, and I'm glad to see that he is part of the regular rotation now.
This book has been around long enough to have developed an identity and cast of its own, and is on a nice, steady upswing. Hopefully it can continue upwards to the point where it can stand shoulder to shoulder with Fables.