Wasn't going to say anything because I like to stay positive for these lists, but if everyone else is going to weigh in, I'll just say that you're not alone in not appreciating ITYSL. I loathe that show, but everyone else seems to love it. *shrug* Glad to hear it's not just me!
As for my #1 above, Gravy Boat Lighthouse is just so delightfully absurd. I can't fathom how anyone ever arrived at the idea, but it is 100% gold. That clip actually cuts out my favourite bit, though, which is how, immediately after that sketch ends, Conan stares at the camera and says something to the effect of "I've been doing this stuff for X years, and this is easily the dumbest thing we've ever done."