In my Opine...
It worked well for TV, replacing a news-heavy morning bulletin with a well-known personality previously from 'the other network'. And sharing the costs over the RadioLive breakfast show would have helped (a little). It did cost them Marcus Lush who had a loyal following on the radio, so ratings may have dipped (I can't say for sure, ratings systems we're a bit iffy at that time).
I reckon the format is brilliant, it definitely works on both mediums, and despite never being terribly interested in Henry, he had won me over (via radio) and had me hooked after tuning in for one week. Some narcotic eh!
Not sure about Duncan (his replacement) though, but time will tell.
Note: I do not work for, or am affiliated with MediaWorks in any way (or ever have been)!