To think that there were people who doubted Trafalgar Law back in Punk Hazard. Yet here he is defending his status with the Straw Hats as equals. His reasoning may be pragmatic, but it was none the less impressive. The price of his honesty is losing his title of Warlord, but he's probbaly done with it at this stage. It was a means to an end for him.
One of Oda's most endearing qualities as a writer is his ability to plan ahead and reference older material in new and inventive ways. It really displays ONE PIECE as one of the better examples in fictional world crafting of which I can remember. Events don't just happen then disappear from the world. I very much doubt that Oda intended to have Montblanc Noland play such a key role years ago. It's just a great reference that makes one happy to be a long time reader.
I can't really see anything as bad in this chapter or lacking. I actually appreciate that we're seeing the plot progressing while Luffy is busy with his B Story. I'm confident that we'll return to the tournament when it's needed. We don't need to see him crushing fodder for pages at a time at this stage.
It was a really good chapter this week. and it's having tons of great payoff. I especially like that Usopp pays of his lies in a big way just as he comes across his most gullible audience. The action that we got this week was brief, but who really cares when the outcome is such a stellar display of power. Things almost got DRAGON BALL level crazy, and that's just the opening gambit. Law is surrounded by enemies, and I'm thrilled to see how he gets out of it.