This show has had many peaks and valleys and while it remains to be seen how the 7th season will eventually play out, this episode is one of the best in years. If you are an old school Office fan and liked the show for it's more restrained and heart warming moments, this episode offers that. It still has the over the top broadness of recent history, however, those moments fit into this episode seamlessly.
Remember season 2/3 when the show had the ability to make you laugh so much you nearly choked to having sympathy/empathy for a character(s) in a devastating emotional moment to having you wipe tears out of your eyes to see the whole cast involved in something together whether it was silly or poignant (or both)? That's the kind of stuff this episode has. There isn't one false step in this episode; everything works. That's something I haven't been able to say for this show over the majority of the last 3 seasons. There have been great episodes scattered throughout those three seasons (sometimes even in stretches) but the consistency hasn't been there.
For this season while some episodes haven't been as funny as others the believability factor has been there early into this season. And for this episode everything came together again...not only is it believable but it is hilarious and emotionally compelling. And from what I know about what next weeks episode is about, things are looking good for the show to ride this wave of greatness.