It must be me (I'm reading this at my leisure and I have other matters in my mind) but it seems that Holmes is barely working on these cases. They basically "solve" themselves (if there is anything to solve). It's true that we're seeing his first few forays into crime solving, but it's been a bit underwhelming. He teases an old promising case, throws in a few obvious observations along the way, waits it out, and voila! Case solved.
Watson may be gullible, but I remain unimpressed.