I've watched every season, and while there is some shit that gets strange (the zombies of last season), the show overall is good. They really push boundaries on what will work on cable, especially for a non-premium channel. AMH is good shit.
I didn't catch S1 or S2 myself, started watching Coven and thought it was an interesting premise. I like this one, it's weird and interesting. I may have to go back and torrent S1 and S2 if everyone says those are better.
I agree Season 2 was my favorite followed by 1. I was pretty excited for Season 3 due to the setting but felt it was a disappointment. I was excited about the Freak show premise as well but was not crazy about the first episode. It seemed bland minus the Clown. I expect it to ramp up though as the "Freaks" want revenge for their treatment or get blamed for the murders by the clown.
Decent 2nd episode although Paulson singing Fiona Apple and the mosh pit in what supposed to be the 1950's was ridiculous. Pretty boy is about as crazy as the clown (it was funny when he gets popped by the bowling pin though).