I like the way he realizes the silliness inherent in much of the show, but enthusiastically jumps right in himself (jumping up and down along with the contestants, for instance).
He is a bit rusty on moving from point A to B to C, but the person we have to directly compare him to did this for 35 years. I have little doubt that that, along with some of his other quirks (like repeating the essentials of the Showcase Showdown to every contestant to, I'm guessing, avoid any chance of forgetting to mention it at all), will fade away with experience.
And I have to say, I have a great appreciation of everything he's done to not make the models seem like second-tier participants in the events. Mentioning their names repeatedly has come up, but I can think of at least three other great moments: 1) saying in all seriousness that the model was helping him keep track of the order of punches on the Punchboard, 2) complimenting a dance that "accompanied" a trip to Scotland, and 3) the self-conscious poke about a model "going snowboarding in high heels and no pants". Without actually saying it, Drew is clearly indicating that the models are never going to be "his beauties".
(And yes, I realize the irony in my inability to remember which model was being addressed in all of those cases.)
Anyway, I'm very enthusiastic about the show now, and I fully intend to keep watching, online if not on TV.