Eh, took me a while to finally watch this, but I thought it would probably be good to chime in, now that the first season is over.
It was an alright episode. I dunno why, but really did feel for Cleveland when he got the shaft again from Loretta. I thought seeing Loretta die in that bathtub gag would be the last laugh, but she had and it kindof turned Cleveland Jr. into an ass. I was half-expecting that he'd lose all the money at the end of the episode for one reason or another, but instead it was put towards that rather indulgent final act. But other than that, there was some nice parts like at the strip club, black Stewie, another random black basketball player reference, and of course some well done cameos from Family Guy.
But as for Cleveland Show Season 1? While rather rough at the start, all it managed to do was break even for me. It didn't do anything roughly spectacular, but did it competently. It still lacks the watershed moment where it ceases being competent and it starts being awesome. So hopefully Season 2 will be better in that regard.