Well on the good side, the clown is creepy enough. On the bad side, I believe Frances Conroy was under utilized and I cant quite get Jessica Lange's german accent fully. Kudos for pulling off Siamese Twins Bette and Dot even though it looks CGI ish at times but hey, it's TV quality.
Episode one's ending is a bit sad. I kind of feel for Jessica Lange's character.
Spoiler!