Disappointed. Wait. Why am I actually? Oh, yes, I am stupid enough and still believe Fate actually for once might deliver. Yeah, I need to grow up. This is the first step. Uhm..yeah..I've done many of these steps. Gosh. Anyway..
I have 3 big problems with this episode, which highly annoyed me:
1) I hate this particular dumb and edgy trope of "making characters smart" usage here and certainly in many animes before. The trope is basically described when a character A, trying to look as calm, slick and cool, feeds character B "shocking" info, meanwhile the reactions of character B are either voiced by the infamous "NANI?!" or are read from his visibly englarging eyeballs, rigged and full of surprise. I believe 99% of the audience doesn't get fooled by this. It doesn't mean character A is highly inteligent, though it might mean character B is stupid. I feel the latter is the truth in this case.
2) Humor. As Waver was in Fate/Zero more of an otaku, shy boy, nothing has changed and his humor feels childish, embarassing. The same applies to his friend, where apparently coughing frequently blood is supposed to be funny.
3) Waver feels to me as a lead very weak. I am not sure why someone even designed a story around him, but he ever feels to me confused. This show rather reminds more of some adventures of young Sherlock Holmes mutated with Indiana Jones and adding a weird bit of magic. I have no idea where it is going, but with characters like Waver this can't be good.