The Invasion was originally supposed to be a shorter story, but was fleshed out to eight episodes when script problems on other serials in Season Six resulted in those serials being dropped. Episode Three shows the stretch marks of that expansion.
At the end of Episode Two, Packer captures The Doctor and Jamie, while Zoe and Isobel are locked away in a crate. At the end of Episode Three, Packer is looking to capture The Doctor and Jamie, while Zoe and Isobel are still locked in a crate. In the intervening time, The Doctor and Jamie are taken out to Vaughn's office at the IE factory (which, conveniently, looks exactly like his office in London), find out very little information about Vaughn, have a meeting with Professor Watkins and go out of their way to not reveal any information during their chat, then escape again.
All this episode does is make Packer out to look like an idiot on several occasions, and drop the cool factor of Vaughn towards the end as the IE Managing Director is resorted to shouting at Packer for his repeated failures during the past 24 minutes. He redeems himself, though, when he chomps out the line "I'll be in my office, and please don't fail this time. There's a good fellow".
Oh, and still no Cybermen, but at least they're referred to on a couple of occasions as "our allies" by Vaughn and Packer.