I haven't seen that much fluff before/after an event since the Kentucky Derby. It takes a 3 hours to telecast a 3 minute horse race?
That's not any worse than a 8, 9, 10+ hour pre-game to the Super Bowl. If you don't know enough about the teams and players (and the city hosting the game) after a whole football season, there's not much sense in watching the game. A couple of hours of pre-game, maybe, but longer is ridiculous.
3 hours for a 3 minute horse race is pretty bad though. I guess somebody had to fill the time with 'best and worst hats' and 'how to make a great mint julep'? >ugh<