^ Hell, I'd argue that P&F IS the best kids show on TV right now. There are quite a few jokes that are much more slanted toward adults than kids, and even the jokes for kids are more clever than your standard fare. I remember that a review referred to P&F as "Family Guy with an espionage subplot and a big dose of magical realism", and that comparison really does ring true...minus FG's drop in quality.
Oh, as for the episode and the news itself? It should be fun. Of course, I'm also a bit biased, as I'm a big fan of Christmas specials.
I still watch it all the time lol