I also agree with sc4recrow. It's not the wait, it's the dissolving narrative continuity.
A two month wait was never the problem in previous games. The first two Sam & Max seasons, Wallace & Gromit, Back to the Future ALL had a two-month gap between the first and second episodes. What the heck, so it was two months, whatever. The only thing you really had to remember from the previous episode was the grand picture, the rudimentary storyline.
The Walking Dead game is different. It is also about details, about the small choices, about things you maybe accidentally said or did in certain situations. It is hard enough remembering those when one month has passed, but two full months? How should I still know if that first save slot has the game in which I was a bit too liberal with the swear words around Clementine, in which I somehow managed to not lie to Hershel, in which I told Kenny a bit too much about myself, in which I happened to miss a battery? I think episode 2 might feel a bit too much as if you're thrown into "some" story instead of "your" story because you naturally forget all the small things. That is even more true for real fans who have three (or more!

) save slots with different approaches.
I can understand that TWD is a new type of game that poses new challenges to designers and programmers, so I wholeheartedly understand the delay (yet not the lack of communication). From what we've heard from the developers in the past, the release intervals of episodes are constantly discussed at TTG, and of course they desire a "perfect" interval between episodes, a balance between speed and quality.
For Sam & Max I say: seven weeks, not really a problem. For the Walking Dead, I would indeed say: five weeks is a bit too long. The long term Telltale fans have eventually embraced the episodic concept, no doubt about that. But here the ones who wait for the Season to finish before they start playing are at a definite immersion advantage. That DOES threaten the episodic concept.