A typical show can include story bits (radio bits that evolve from a witty or shocking story by anyone in the studio), celebrity call ins, an appearance by one of many of the shows' "unique characters" (ex. a 50 some odd woman, who is homeless and a virgin) or all of the above. Not greatly structured (but by no means "amateur" or loose feeling), the show is non linear and follows little pattern, with Op generally keeping the pace unfolding with new topics, while Anthony (and Jimmy) keep it loose.
The show is heavily criticized by fans of Howard Stern ("Howie" as he is commonly known in studio) as well as Howard himself, because he feels the radio duo has taken a formula he created and perfected, and he is (or seems at least) greatly disrespected by it. The two radio shows have been feuding ever since.
For the skeptics, give the show a chance.