I stopped after the escalator sketch did nothing for me.
The opening was fine, Baldwin's little cameo was good enough for me, but the rest sucked shit.
On Update, I think it's obvious why they chose to let Poehler host it. The only character, for the most part, that she does appear as on Update is Michael Jackson, and her Michael Jackson sucks ass. While I think Meyers or Forte would be far better at it, they do too many characters for it to work.
She didn't do a terrible job. She needs to get used to it, and I think in time she'll get into a groove.