Very good time in Hell? (3)
I believe the answer is:
pit
'hell?' is the definition.
('the pit' can mean hell)
'very good time' is the wordplay.
'very good' becomes 'pi' (pi can mean pious).
'time' becomes 't' (abbreviation).
'pi'+'t'='PIT'
'in' is the link.
(Other definitions for pit that I've seen before include "Mine; fruit-stone" , "Where racing cars refuel" , "Where the orchestra sits to accompany performers" , "Cherry-stone" , "part of theatre" .)