The idea has merit, but I have to join in with the collective voice that this is not really the best idea for Sam & Max.
These games are short, and rightfully so; I really enjoy the shorter but monthly (more or less) release schedule for Sam & Max. The episodes are so packed full of little tidbits to go back and explore for as well. Each episode really gives me more than a months worth of off and on play. A weekly schedule would make me feel a little more rushed to finish so I was ready for the next week, where as with the monthly releases, I can blow through the story and then spend some lazy afternoons goofing around and enjoying all the little jokes and asides I would have otherwise missed.
And let us face it, most, if not all of us are just glad to have more Sam & Max on our gaming buffet. And I am more than happy with the way Telltale has handled things. Season two has just begun, but I already salivate for Seasons three, four, five, and beyond!