Finally watched (DVR magic). I was disappointed they did not show more classic skits. I saw teasers and heard references, but don't recall actually seeing many of them (e.g., more cowbell, the plumber, etc). Maybe it is just that everyone has their own favorites. But it seemed they concentrated more on the live show reminiscing about the past 40-years, rather than actually looking at the past 40-years. They did do a lot of 1-second peeks though, which frustrated me because when you saw one you liked, you then wanted to see it.
They did get me with Jon Lovitz being in the deceased member list, until the very end of it.
And why did they waste what seemed an eternity (even with fast-forward on the DVR) to the Kanye West performance. The best part though with Kanye was later with Wayne's World, and they were able to play on Kanye where he was guarded by two big dudes preventing him from running on stage.
Nonetheless, criticisms aside, I did find the show very good. It was great seeing so many of the participants again.