That certainly is an interesting market. The stations have the duty of covering both Plattsburgh, NY and Burlington, VT. The two cities are relatively close to each other, but having Lake Champlain in the middle makes for some unique arrangements. There aren't any bridges across the lake... only ferries. Definitely not optimal for getting news stories back and forth in a timely matter.
I could look all this up, but I'm being lazy. I believe WPTZ is in Plattsburgh and WCAX is in Burlington. Both stations have facilities on the "opposite" side of the lake for feeding stories back to the station. I believe one or both may even have a full studio on the other side of the lake -- or at least, used to. WVNY, the ABC affiliate, was in 3rd place for the longest time, and may very well still be. Last I knew, they didn't even have news at 11pm -- just a 5-minute update and then some syndicated fare to fill the remaining 30 minutes until Nightline comes on.
WCAX was for a long time, under family ownership, and thus, spent big bucks on toys and talent. I think that ended a few years ago. I'm not sure if they are (or were) #1 in the market, but from an outside viewpoint, it sure seemed it.
WPTZ is owned by Hearst-Argyle, which actually has a pretty strong TV group, and is also fairly generous with the checkbook. Of course, a lot of the "slickness" to WPTZ can be attributed to bigger sister stations in markets like Boston and Orlando... usually graphics packages and music that are commissioned for the big stations are also made available to the smaller stations. WPTZ also benefits from some sort of deal where it is "the" NBC affiliate shown on cable in Montreal. Even though those numbers don't count for Nielsen, they still help the station bring in some coin from the other side of the border.
WPTZ also has an interesting setup with a "satellite" station it owns in Southern Vermont. I don't remember exactly where "WNNE Channel 31" is located, but I've seen it on cable when I've gone on skiing trips in that part of the state. Basically, they simulcast the first block of WPTZ's news, then a dedicated channel 31 anchor does the "really local" news for one segment, and they re-join WPTZ for the remainder of the show. It's quite an unique setup, though I'd imagine that one poor WNNE anchor must be busting his/her hump every day as a one-man band just to get those 5-6 minutes of news on the air. I highly doubt the bureau is staffed by more than 2 or 3 people.
I haven't been out there in at least 3 years, so I hope someone else will correct me if I am wrong, but since there weren't any other replies, I figured I'd contribute what I did know about the market.