First, congratulations to Chef Garces.
Second, this show is a shining example of the incompetence of Food Network. It feels like a knockoff of Top Chef, which it is, but the prize is far greater than anything Bravo could muster.
Becoming an Iron Chef is a million dollar gig. Instantly, the winner becomes one of the most famous chefs in the country. Chef Garces may have been a celebrity chef in Philadelphia, but now he will be recognized from coast to coast. Look at what becoming an Iron Chef did for Michael Symon's career and profile.
This series, however, has not been very well thought out. Some of the challenges were ridiculous (Indian food?! Really?!) and the battle for proteins is often unbecoming.
I'm not sure why a new Iron Chef was even necessary, except to produce this show. I knew Mario Batali had a falling out with FN, but they seem to have patched things up, to an extent. I had not heard the rumors regarding Cora and Morimoto until I read this thread. However, I would like to see a hundred Iron Chefs if it means we won't see Bobby Flay on every other episode of Iron Chef America.
Finally, the best thing this show has going for it is that it's not The Next Food Network Star. At least Chef Garces won't disappear after a few months.