I am up to Episode 04, and I like it so far, too.
Going for a Michael Caine impersonation wasn't a bad choice.
Unless I am completely wrong, it feels however that it is also a bit "alt-history", isn't it? It seemed in episode 4 they mentioned something about a Reichs Chancellor in Germany, which... well, we don't have Reich-anything anymore since 45. And maybe more obvious to Brits, the pillories or public executions (or executions at all?) didn't happen in the 60s anymore, either. I mean, DC's history must always be a bit "alt-history", since Metropolis and Gotham City would also be cities that are hard to miss, a place like Sunnydale is more easily a town you just never heard about before...