Terrible episode, in my opinion.
So, you're being chased by someone intent on killing you. You find a phone booth. What's the first thing that comes into your mind? "Oh no! I need a reporter!"
A reporter?!?! Err... how about the police. Or a friend. Reporters aren't exactly an emergency service.
Far too many llittle contrivances which broke the suspension of disbelief just that little bit too much. Lex had his membership card to the super-secret club right there on the table next to him when Clark suddenly needed it. How the club owner fell for Chloe and Lois' story is beyond me, especially with their habit of giving the entire thing away just yards from him. Why, oh why, did anyone like Lois' performance? Why wasn't she fired on the spot for obviously not being able to do the job. She was clearly not a stripper. And her performance lasted, what, 15 seconds or so, then it was over?
Lois taking out the two guys in the helicopter. Yeah, I get that she's had martial arts training from her dad or someone, but still. She's tougher than Superman! They didn't stand a chance! She can knock big guys out with a quick backfist!
How did anyone not notice that the helicopter was behaving slightly oddly in a being-pulled-down-by-a-cable-held-by-a-guy-on-the-roof-with-superstrength kind of way? They just got out of the copter when it hit the ground as if it had behaved perfectly normally. It's not even as if they could have thought it was out of control and they'd luckily survived a crash landing.
And finally - the way the bad guy just gave in and went with them at the end. Neither was restraining him in any way (and Clark couldn't have done so in front of Lois anyway). It was like "Oh, they have 'defeated' me, so now I'll go and do what they say."
Diplomatic immunity means the cops have to just let you walk away? What?!?! Since when? Diplomatic immunity means you still get arrested. You then either get deported or the country in question waives the immunity and you're prosecuted as normal. You don't get to just smugly walk off!
Eh. All too silly. Smallville can do so much better than that.