I was disappointed in the show, too. I intially watched out of curiousity after accidently coming across the British version on the 'Net.
I watched the first week for Tiffany and to hear her perform "Breakaway." However, the show just dragged on and I couldn't wait for it to be over.
I think they needed to gather a better bunch of also-rans. Actually audition them instead taking whoever says yes. I would love to see some of my favorite singers from the 80s. How about a poll of performers to choose from and like you mentioned, more interaction with the viewing audience.
Great article