Abbott & Costello Meet Jerry Seinfeld

How strange that a person as intelligent as Jerry Seinfeld should have signed on for Abbott & Costello Meet Jerry Seinfeld, a typical TV salute that ends up insulting its honorees. Seinfeld has long expressed his admiration for the comedy team of Bud Abbott and Lou Costello, but this showcase for the duo's snappy verbal banter and loose slapstick commits the crucial sin of chopping up the routines. When Seinfeld sets up a classic bit like ''Who's on First,'' he speaks of Abbott and Costello's timing and intricate wordplay — and then we get to see just a few seconds of the bit, its context edited out, its best punchlines nowhere to be heard. Come next Halloween, just try to catch Abbott & Costello Meet Frankenstein, and you'll understand everything this well-meaning special botches. D+