Since several comments have been made concerning this show in recent threads, I'll take Jason's direction and start a Fanpost.
Discuss the show in a safe place here. Spoilers will likely follow - through the first 5 episodes at least.
1. Themes: is repetition the main theme? Is the writer winking at the audience as we watch (and rewatch) the show about the nature of stories or the absurdity of human existence in general?
2. Theories: I've thought from episode 2/3 that a. Hart was the real criminal, b. Rev. Tuttle was behind everything. I think a. isn't as cut and dry, but I think b. will be revealed in the last few episodes.
3. Story: I was very surprised to see the cracks become full blown in the story told by Cohle and Hart with the showdown at Ledoux's place. I was also surprised to see that case resolved, with three episodes to go. Will the new episodes shift to the 2012 timeline or is the truth behind all this in the 2002 incident that caused the rift between the two? Episode 5 gave us our first glimpse of a time outside 2012 and 1995.
4. Connections: A friend of mine thinks Hart's Father in Law is involved in the possible cult behind everything. It's possible Hart's older daughter was abused and this led to her graphic drawings and sexual promiscuity as a teenager, and the whole thing is in front of Hart's nose, and he can't see it.
5. Casting: I haven't seen McConaghey's movies as of late (Dallas Buyer's Club, Killer Joe, Mud) but this has got to be one of his best. He plays '95 Cohle with such a great precision and comes off as haunted. 2012 "I don't give a flying f***" Cohle is just as good.
6. Gap: I have a feeling post-2002, Cohle went searching for the real killer across the country, after he found the creepy as s*** stuff in the school, that finally led him back to Tuttle in 2010. There is still one more person to be found I think, but as to who they are and how connected to the police force, I don't know. I can't wait for Sunday nights.
7. Return of the miniseries: I think this show is a gamechanger for TV. With all the popularity of BBC's Sherlock and HBO's Game of Thrones, I think there will be either a drastic change in the typical American 22-23 episodes season to a more limited run with a tighter story or we will see an explosion in miniseries this year. All of my favorite shows are no more than 13 episodes a season now, and with streaming options, I don't watch them when they air.