Yes, he's smug and overpaid. His commentary in the Home Run Derby was rather cringeworthy, and he just doesn't seem to fit on camera. Having said all that, Rick Reilly's slam poetry session on the British Open had moments of brilliance, and other times moments of anguish.
"Bangers, pasties, and good stout beer / roughs so high you could lose Mike Weir" made me giggle because the thought of a Canadian being devoured by a sentient patch of grass just struck me the right way. "Rain and cold and gusts that stagger / bunkers with lips as big as Mick Jagger's" is also quite crafty, although I'm not sure if it's a $2 million/year joke. The worst part was seeing his grin at the beginning and end of the segment, because he knows this is so clever.
But in all, it wasn't horrible.
If ESPN can just keep this guy to do spots like this, and show his smiling face as little as possible, they might have a winning formula. If they want to use his writing ability for live events, then shoot, make him a live blogger.
British Open Poem [ESPN]