It seems we didn't actually cover the first one, but quiet you.
Mike Levine's second update of the dev blog delves a bit into the team's process in devising the gameplay mechanics of a Sam & Max VR title from a graphic adventure starting point, then offers something of a synopsis:
It’s 2021 … and Sam & Max have been doing this a long time now. Sam has convinced Max to begrudgingly begin taking on new cadets to train for the next generation of Freelance Police. After putting you through some basic aptitude tests (i.e. making Sam coffee, nuking Max’s Lunch, or clearing out cockroaches from their closet), they take you over to an old abandoned amusement park on the outskirts of town. Sam & Max have “retrofitted” Capn Aquabear’s FunTime Park into a set of death defying (and life affirming) challenges the player must make their way through. Players will tackle the “Courses” in the 3 parts, and be graded on their performance. A passing grade will unlock the next section. But as usual, “life” gets in the way. Real crimes are taking place that cannot be ignored. And as you earn Sam & Max’s trust (ok mainly Sam’s), they will take you with them out into the real world, to solve crimes, thwart bad guys, and tell you where to get the best pedicure. Amazingly, the skills you have been honing in the Park come in handy as you take on the city’s seedier elements. Everything is going just swimmingly as you approach your big graduation day. But nothing is ever that simple for Sam & Max, is it? And you are now along for the ride! We don’t want to spoil all the goods here, so I will just end this here before I give away too much.
Finally, we're given another piece of concept art from the Capn Aquabear’s FunTime Park, which seems like it will be serving as something of a hub throughout the game. Hey, you had me at Peter Chan: