You have to have a pretty childish sense of humor to like it (surprise, surprise). But it works so well on outright comedy and just taking the piss out of Hollywood films with the dialogue, camera angles music etc.
I watched a serious film afterwards (The Punisher) and was just cracking up because any serious dialog seemed funny after Team America.
I enjoyed the movie. My friends and I came out singing, "I'm so rone-ry." Oh, and while there's nothing after the credits, the last song played is hilarious. Kim Jong Il sings another song called "You're So Worthless Alec Baldwin".