The episode I saw showed something wrong (at least in my opinion) with the way they are promoting the show during premiere week. They have upped the amount of money to be a max of $4,000,000 (instead of $1,000,000). I saw the following (this might not be quite accurate but makes the point) There were 6 numbers left:
A question like `would you take $70,000 or take the chance that you get $400,000' is mildly interesting. But the $700,000 is to large to not take. Hence the game gets less interesting mathemtatically.
Given a persons utility function (or something like it) what would be the optimal max amount (and optimal set of amounts) to maximize the games INTEREST? This question might be interesting.