Indeed. I was thinking this when I watched the most recent episode. The fighting and action has been slowed down and has been more clunky, and it just never feels real - how can NOONE actaully hit the guy with a bullet, even though he's just walking towards them.
Damien Dhark was interesting in the beginning but just like with Ra's al Ghul they have dragged him too long. The series really can't stand up to 23 episodes per season which is a shame. They could have done it more like Daredevil, 10 episodes a season but tightly written and acted instead of this.
Stephen Amell has even gained a little weight, hasn't he? He doesn't look as much in shape as previously (i.e. season 1 and 2).
(Agree with Flash, as well, that's got way better but then again, Arrow was quite good too in the beginning.)