I recently watched a newer episode for the first time, "Fifteen," and I really enjoyed it. I think that's the kind of thing the show needs. I loved how there were three different subplots going on: George on the radio show, Arthur and his report, and the pets and imaginary friends, which all end up related to each other. I thought it worked well. Still not quite as good as the classic episodes, but it's definitely not the worst.
I kind of feel this is becoming like Sesame Street in a way: we're talking about the "classic episodes" and how good they were, and how in the newer ones the show has declined.