Wow, I always thought it was one episode too long. Every time they did a cliffhanger to end a season, the second part was always terrible (or in this case, at least, passable but still disappointing). The only exception was Redemption which was excellent on both ends (and I suppose Descent which was just godawful all the way through). I suppose that Piller might have been onto something with extending TBoBW out, though. They set a lot up with the first parts of these, and then have to resolve them in 45 minutes. In this case, Riker having to overcome Picard's knowledge of him was the big story, and they didn't get to really play it out. An intermediary episode in there would have helped.
The mid season two-parters tended to always be good to excellent. Unification, Chain of Command and Gambit were all great. Birthright wasn't bad, but it needed an actual B story to go along with the Worf story.