It feels more like a "Catch Up" episode. It is as if they are trying to cram in elements of the book in as little of time as possible, so it is moving very fast.

The budget constraints are quite hilarious though. Joffrey's tournament was very laughable, it is a couple of guys fighting on a wall with people crammed in around them. I know in the books it was meant to be a complete joke, but not -this- bad.