This discussion may contain spoilers!
I know this is kind of a mute point, but since this is a place of expression...
I thought In Sheep's Clothing was a clever filler. It was psychological and allowed us to manage our relationships with Beauty/Beast, Colin and Toad (maybe Bluebeard too). It also explored the mystery through Nerissa's interesting conversation and had a really weird and intense ending through the Tiny Tim character. But the fact is that episode didn't close any arc yet. And this is what scares me.
We still don't know why Faith and Lily were killed. We don't know what The Crooked Man and his goons were going to do once they'd take control of Fabletown, seeing as they are more secure and have more resources now than at the head of Fabletown. We don't know how Colin or Toad are going to fare. We don't know if the redheaded guy was a red herring. We don't know what happens to Aunty Greenleaf. We don't know the consequences of killing/saving Dum. We don't see Fly again (what happens if you don't offer him the job?) We don't know what's going to happen to Lawrence. We don't know what Faith has stolen. We don't know what Jack's doing in the middle of this. And we still don't know where Effin Pixel is.
More importantly though, some characters have still to disappear: Bloody Mary, The Crooked Man, the Tweedles, Vivian, Georgie, Nerissa, Holly, Gren, Woody, Tiny Tim, Aunty Greenleaf, Faith (? Through powerful magic her whereabouts concealed)... or at least, they should have a convenient story about why we don't see them any more in the comics. And then... we have a lot of original characters in this prequel, which is fine. But Telltale always goes the extra mile, because they love the original material as we do, and it is just sad to see how many of the original characters have yet to make an appearance (and not through name dropping.) Where are Cindy? Briar Rose? Blue Boy? Pinocchio? Rose Red?... There are a lot of hints about The Farm too, but we have yet to see it, and it is becoming less and less likely that we will, so, many of the non-readers will have no idea if it's really a prison or not. And will they be able to explain why Bigby and Snow start off with such a distance in the comics whereas Telltale has offered so many intimate moments in the game? ("Wolf Residence...")
And maybe the most important question: will we be able to have an emotional payoff? Will our choice, or at least one will have a true impact, not on the story (because they do that pretty well already), but on ourselves? Are they going to be able to make this story still important, but not by overplaying it and making it weird that we don't mention it in the comics?
Sorry for this long message. I love Telltale, I love Fables. I was only reading the Deluxe editions until recently, so I'm not up-to-date, but I can still say I love Fables and I have been waiting for this game since February 19th, 2011. It's probably the longest I've longed for a game. I've had high hopes and I hope some people share this genuine concern about the game. I hope the creative team, while telling the story as they want it, working with Bill, still cares about our fears, concerns and experience. More importantly, I hope they care enough about Fables and its characters to create something powerful and deeply human.