For me the moment that closest achieves perfection is the barbershop quarter rendition of 'Smells Like Teen Spirit'. This is SO something Henson would do to take the pretension out of one of the most overplayed and overrated songs in rock history.
For sticking points: I felt that there the movie lacked a certain zany chaos, the voices weren't always perfect (Fozzie seemed to be the least consistent) and poor Walter is just dull. His 'talent' comes right out of left field (and therefore feels unearned) and I couldn't help but feel that it was an attempt by Segal to get a version of himself enshrined into Muppet lore (not that I can blame him). However, I have a feeling that as soon as Segal vacates the producer's chair, poor Walt will end up in a box somewhere next to Roosevelt Franklin, Digit and Clifford.
Loot: Fart Shoes
Created by the wizard Wocka Wocka, this item appears to be a normal pair of leather shoes with sheep bladders afixed to the heels.
When worn the shoes make a constant amusing tooting sound, but twice a day (one for each shoe) they can release a cloud of noxious gas that will incapacitate anyone standing behind the wearer.