I'd really like to say the other reviews here are wrong and the episode is actually spellbindingly brilliant, but no such luck. It really is mind-achingly slow and a chore to watch; at times I could feel myself trying to mentally speed up the pacing. A small scene when the male lead goes into the bathroom to fetch a glass of water and decides to make a wish on the monkey's paw is dragged out forever, the only reason for which I could see is that someone suddenly realized they didn't have enough commercials to get them to the necessary running time.
A maybe partial explanation for the ghastly lugubriousness is that they're trying for a strangely baroque tone; the characters strike odd, formalistic attitudes and speak remote, unreal lines of dialogue. A scene where a crowd gathers outside a house in silence at first seems like it's supposed to be real, then it's implied it was imaginary, and then it's back to real again. The source material for the episode is very brisk and straightforward leading to the climax, and that approach is far preferable to the arch, pretentious tone taken here.
It's hard to judge the acting when the performers are forced to utter those peculiarly off-base lines they're given, but Jane Wyatt is very beautiful and has a strong presence, and it's interesting to see Lee Majors in his youthful bloom, long before The Six Million Dollar Man with his hardened, scowling visage. I'm not sorry I watched the episode, but if I ever decide to do it again I'll be sure to have a strong drink on hand.