Yeah, it was short, but I like it because Luffy actually lost for once. I kind of hate animes were the main protagonist gets his butt beat for the first part of the fight, but then wins near the end of the fight. It's cool sometimes, but it kind of makes the anime stale when the hero seems unstopable. Defeat opens up room for character devolpment and improvement (MIZU LUFFY!!!)
Granted, the same happened with Lucci (somewhat), but vs Crocodile was a first. : P