While I still have some reservations about whether Spice and Wolf is going to be able to keep my interest for the entire duration of its run, I have to admit - It's kind of growing on me.
While this particular show is hardly a bastion of deep thinking or packed with action, it nonetheless has so far managed to keep me engaged, moving on both the basic plot (making legally trading goods about as exciting as you probably can in animated form) and the relationship between Horo and Lawrence quite nicely. Indeed, that is perhaps the crux of this anime so far - The way the two main characters interact (although this is doubtless helped by the fact that Horo is just plain cute in the bargain) gives me that warm, fuzzy feeling, thus help managing to keep my interest.
Oh, and Horo keeps her clothes on for basically the entirety of this episode which, given her proclivity towards gratuitous nudity in the first couple of episodes, is well and truly noteworthy in and of itself. So, while I'm not still 100% convinced by the overall entertainment quality of Spice and Wolf, it's done enough to keep my interest piqued so far.