Watched this one the other night (probably should have watched it on Sunday, before the oscars, it would have made Nicole Kidman's face all that funnier).
Not quite as side splittingly funny as his previous three films. This one abandons the 'mockumentary' format and tries for... well, I suppose 'mockudrama' would be a way to describe it. Interviews are still a big portion of the show, although it is frequently the interviewers who are the focus of the parody a lot of the time.
Catherine O'Hara is brilliant as usual, and undergoes the most depressingly familiar transformation, from hard working underappreciated thespian uncomfortable with the 'fame' part of the actor's life, to absolute publicity hag, botoxed and tucked beyond recognition. Fred Willard is cluelessly hilarious as usual, and the usual gang of regulars have their moments (I love all the older characters confusing references to that mysterious thing called the 'internet'). Ricky Gervais joins the improv troupe in this one, and I was thinking he would be a great addition to the team, but his scenes kind of fall flat for some reason.
Overall, not quite as satisfying as Mighty Wind, Best in Show or Waiting for Guffman. I hate to pigeonhole the director, but this group of improvisational talents seem to shine better in the documentary format, the characters seemed to be much more 'real' despite their quirks, where in this format, the acting seemed much more forced and caricatureish. Still, funnier than a lot of the crap out there that passes for comedy.