Homer dips back into his 70's comedy (and ganja) past by capitalizing on the rift formed when Cheech and Chong want to pursue different forms of their usual shtick.
Unfortunately, they're both revealed to be the worst kinds of people—bright intellectuals feigning spaced-out reefer madness.
I'd say this was a multifaceted episode with far too much crammed into it (better than too little) including a tragically underexplored hoarding habit shared by the Crazy Cat Lady and Marge. However, it was really all about Homer's tripped out fantasm concerning what it would mean to receive a "gift from Cheech". Also, I would probably pay to go see the Skinner/Chong teamup, "Teech and Chong". For some reason, every resident of Springfield seems to be totally blind to Skinner's Standup prowess no matter how many times he tries.