Lex's absence definitely has left a major void. He was the opposing force for everyone on the show and I don't think they'll be able to replace that. Clark and Chloe are the only pair of original characters left and the adult characters are all gone. So it's up to the younger group.
That being said, there was some good and promising stuff here. Oliver now being a part of the regular cast. Chloe's new powers. Lois's great legs. The Oliver/Clark fight. Oliver shooting Clark through the chest with an arrow was pretty cool. Very good to see a pro-active Clark but knowing the show, he'll regress two steps next week. Clark and Lois's interaction was quite good as well.
BTW, when Phil Morris showed up, was anyone expecting him to ask Clark...
"Who told you to touch the red krptonite? Did I tell you to touch the red kryptonite?"