Gilliam has done some excellent work, this isn't it. I wasn't expecting Python level humor, but was expecting to be sort of entertained.
Here is the sum of the jokes (spoilers):
Repeat these jokes ad nauseum.
- Our 'hero' is in love with a fat, disgusting girl who doesn't like him.
- Medieval fights and jousts were bloody.
- Medieval life was dirty and short.
Repeat these jokes ad nauseum.