First off, there is clearly no pleasing some of you.
"We want MOOOOOORE traditional shows!" Well, now you got one, and I'm seeing the same people bitching and moaning that there aren't enough questions, or the prizes suck, or it's a knockoff of other shows. Folks, this is about as close to traditional as you're gonna get. Enjoy it, because you and I know there is about no chance of it being around this time next year.
That said, there's a little room for improvement, but I don't think it needs much. I was very pleased to see that they didn't completely rip off the definition format used in the box game and on Wordplay and instead went with a question-answer format. I understand the knock that only four questions were played, but then I would turn around and point out that both Liar's Club and Match Game only played four questions, and MG at least is held in high reverence by this group. (Liar's Club, maybe not so much, but it was always a favorite of mine.)
But I have an idea that gets some more questions in the game without changing the overall essence of it, and they both replace Round 1: Give each player their 250 point spot, and then offer them the chance to increase their stake going into Round Two by particpating in the "100 Yard Balderdash" (or some other whimsical name to imply a speed round). Each player gets sixty seconds , and going from left to right on the panel, the celebrity is asked a question, the celebrity answers (quickly, from his list of canned answers), and the player guesses whether the answer is truth or Balderdash. Correct answers pay 50 points. After each player has a turn, take a break, and roll directly into Round Two (sans additional point spottage - they just won those in Round One) after the break.
(The one problem this could have is the production train wreck that could occur if a celebrity loses their place and reads the wrong answer for a question. Frankly, if this happens, I move that said celebrity is taken out back and shot. I can't see any individual celeb playing more than three questions in this round anyhow (nor do I want them to, so adjust the time appropriately if it looks like they're gonna get more in, but I really doubt it, Elaine is no Jim Perry or Tom Bergeron as a reader)
Play the rest of the game as normal. (I would try to make sure that the third round always involves some kind of visual media, if nothing else as a nod to the Liar's Club Art Gallery.) Oh, yeah: Institute a rule (signed off on by the players when they sign their agreements, doesn't need to be explained on-air) that all wagers are to be in multiples of 50 points. This ain't Jeopardy, there is no reason the math needs to be made harder for the folks at home.
Bonus game: Don't change A THING. "But it's too much like Whew!" Yeah, MORE SHOWS should be like Whew!. I might approach it a little differently, tho. Tell them that nine correct answers gets them the prize, play the round, and THEN, if they don't make it, go through the rigamarole with the letters as a Second Chance thing. (Kinda like Barker does with Bullseye on TPiR.)
Prize budget: Sure, I'd like to see them play for dollars instead of points in the front game, and I'd like to see Ten Large in the bonus round instead of a vacation and some crappy watches. I'm sure THEY'D love to see that, too. But this is PAX we're talking about, folks. Their budget is what it is, wishing won't make it so, and bitching that the budget needs to be bigger demonstrates your own ignorance about how this all works. Yeah, it needs to be, it isn't, live with it.
So that's my take. Really, as it is now, it's a totally inoffensive way to spend a half-hour, but I won't go out of my way to watch it, and I certainly won't be setting any Season Passes on the Tivo.