The Good: The Biggest Loser. Three words that not only sum up NBC’s only bright-spot ratings wise this fall, but also the fact that the downward losing spiral that the Peacock Network currently finds itself in has not just one, but two benefits for us TV Addicts. (1) It has set the network’s bar for renewal far lower, allowing little-watched laughers such as PARKS AND RECREATION, 30 ROCK (and hopefully COMMUNITY) to flourish, and (2) Forced NBC to try harder, as evidence by recent deals that has the network paying top dollar for big name talent such as J.J. Abrams and David Tennant.

The Bad: Where to begin? From the network’s inability to recapture that must-see-TV magic with underwhelming new offering such as TRAUMA and MERCY, to the failed JAY LENO experiment that has tarnished the brand, brought Conan O’Brien and Jimmy Fallon down in the process and turned the once proud Peacock into Hollywood’s laughing stock, Fall 2009 may go down as one of the worst starts to the season since NBC launched MANIMAL.

The Prognosis: Considering NBC’s only other ratings bright spot — their dominant Sunday Night NFL package — won’t won’t be around in Winter 2010 to counterbalance the rest of their losing schedule, CHUCK isn’t going to be anything close to the ratings saviour CHUCK fans are hoping for, and PARENTHOOD’s March premiere is still a long way away, the second half of 2010 isn’t looking to bright. Even with the Winter Olympics, which while great for buzz, will more than likely be a money-loser thanks to the sinking ship that is the US ad market/economy.

The Grade: D

Tune in tomorrow when we give CBS their midseason report card.