Yes, very,very good show for the reasons you've said. Watched them all whilst they were on (UK ITV). I don't bother with 99% of the magic shows, it's all very hackneyed isn't it - even the new wave of magicians are pretty awful. Penn and Teller, on the other hand, are always excellent - and their shows (except for the rubbish "Tell a Lie").
I think there was a bit of controversy after one of the winners turned out to be lying about his winning trick, i.e. Penn and Teller guessed correctly. I might be wrong, though, it was a few months ago.