Comedy is subjective in that it is funny if the viewer thinks it is funny. Therefore when writing a review I try to be fair and not too critical. Hong Kong comedy relies on pop culture references, exaggerations and double takes, toilet and body function gags, and slapstick. It is often an acquired taste. Personally, I acquired a taste for this kind of comedy through watching martial arts movies.
Today, I would guess the only viewer interested in this movie would also have acquired such a taste. I doubt a first time viewer would think this movie funny but that's just a guess. I'm sure a viewer interested in fights or action would like that part of this movie.
The action here is top notch and that is no surprise. Action director Lau Kar-Wing (Liu Chia-Yung) is one of the best. The cast is some of the best with real Peking opera and martial arts skills. The movie has good pacing with many quick fights all leading up to the expected final fight scenes.
I have been watching movies from the golden age of martial arts movies 1967 to 1984 in chronological order to appreciate the development and improvement. I think of this movie as a cherry on top. The execution of the martial arts movements are caught on camera at the precise angle. All aspects of film making have been tuned to near perfection and the movie is cranked out effortlessly.
For fans of this sort of specific genre I rate it as above average and recommend it. For anyone else I would say give it a try if you have the time. You'll know quickly to quit or keep watching.