I agree with Beatnik.
This show has turned unbelievable. Not unfunny, mind you, but unbelievable. The characters portrayed by everyone started out as nods to people that you interact with in your everyday life. Now in season three(sometimes in season two even) all of the characters have turned into caricatures of themselves. While one of the more consistent characters on the show, Michael is not even close to the same as David Brent was on the UK Office.
Brent was obsessed with receiving attention and building himself up in the eyes of everyone. Every time he spoke, it was like a cry for help. It eventually got to the point where you(and the other characters) felt sorry for him. It hasn't(and probably won't) happened with Carell's character because he comes across as a dork who doesn't know any better.
The only way this show can turn around in a big way is if he gets fired. It has to happen sooner or later, because that's one of the things that they haven't done yet from the UK show.
The show should've been done at the end of season two. That was it's moment of greatness.