I'm not disappointed by any means. With all the situations they just set up, I think it's safe to say they're building up to something awesome.
And even though nothing really happened in regards to Tyrese and Michonne getting into the group, and even though they've only been loosely following the comic (which is fine), Tyrese and Michonne were both major characters who ended up having a good relationship with Rick. I assume Rick will eventually get his sense back, and I assume Michonne still has plenty more zombie decapitating to do.
Waiting to see where they go with Daryl and Merle. I'm even somewhat anxious to see how they handle the baby, as they're clearly going in a completely different direction with it than they did in the comics.
Another thing I'm curious about is that little exchange between Axel, Beth, and Carol. I doubt they would have thrown in something like that without a reason, so I keep expecting to see Axel try something dirty.