I just got back from seeing it...and maybe my hopes for it were too high.
With a combination of it being the same director who did Superbad, the cast they had for the movie, and it also getting rave reviews from almost every critic out there, I thought it was going to be hilarious.
But it was nowhere near as funny as I thought it was going to be. It had a couple of good one-liners, but overall it was actually a bit more serious than I thought it was going to be.
I saw it with 2 of my friends, 1 guy and 1 girl, and I feel kind of weird when I say this being a guy but the girl I went with described it as being "cute" and thats really the only way I can describe it.
Maybe my hopes shouldn't be as high for Observe and Report.