Saw it last night. Holy Crap. I *loved* it, but I wouldn't give it an unconditional recommendation. It's bleak, there are some awkward bits, it goes on a bit long. No, it doesn't make a damn bit of sense. It's more like a fairy-tale - as violent as the *old*, before-they-got-cleaned-up fairy tales. I laughed *a lot*, though, and most of the time with the film, occasionally at it.
I want to see it again, though. It's inventive, it's cleverly shot, you can read it as an allegory about class and human history or just enjoy the absolute dementedness of it all.
One of the characters is named "Gilliam". I can only assume that's a little nod to Terry Gilliam.