This episode had a pretty good feel to it, even though a lot of it didn't make sense. Mainly, how'd they get on the Robot Rumble show? They were just there all of a sudden. They didn't show ANY of that process or make reference to it in any way. Also, it's hard to believe that Marge and Lisa wouldn't find out, since it was apparently on TV (all the bullies knew about it) and since Homer and Bart were away for long periods of time every week.
But aside from that, this was a lot better than many recent episodes. Particularly, the plot was probably more focused than that of any episode they've done in the past 3 years. Just about every scene was either Homer & Bart at home or at Robot Rumble, or Marge & Lisa at home or at the pet shelter. They weren't constantly changing the location and situation, and the difference definitely showed. There was more time for character development and interaction.
Even so, Lisa's plot did seem like a throwaway. Thankfully, it was a subplot rather than a double-plot -- again, the focus was pretty tight here. And the gag at the end about Principal Tamzarian was funny.
So basically, if this episode had a few plot holes cleared up and was just more funny overall, it could have been a classic. As it stands, it was pretty good.
EDIT: The TVtome plot summary is oddly different from what actually happened in the episode. However, it actually makes more sense! I'll paste it here before it gets "corrected":
Homer and Bart are watching a "BattleBots"-type program on cable and are inspired to build a robot of their own. Marge disapproves, believing that their lack of engineering knowledge will doom their "project." They build a robot anyway, but it gets slaughtered in its first competition. Unable to repair completely, they adjust the robot so that Homer can operate it from the inside. When it wins some exhibitions, the robot appears on the show that inspired them, where they not only find themselves outmatched, but they also put their lives at risk.
EDIT: Oh, I almost forgot a couple of other nitpicks. Flanders saying "*****in'" was just plain stupid. It seems like they're trying to make a point that he's not quite so conservative anymore. There are two problems with that:
1. It's kind of like making Barney sober. It takes away some good comic potential. I know that sounds harsh, but heck, it's a satire of society, and society has drunks and conservatives.
2. This is the main problem: they never explained why! I'm guessing it's supposed to have started in "A Star is Born-Again", when he inexplicably had sex with that movie star and didn't show any sign of remorse afterward. If that was a key turning point, it was HORRIBLY done.
What else was there? Oh right, the "my mom can wear these on her boobs" line a few seconds later. It wasn't too funny aside from the humor value some people get from hearing the word "boobs".