I'm enjoying it. Downloaded through season 3 (looks like maybe one more episode this season) and just started season 3 (been watching it while working).
It's a good show. First couple episodes were iffy but got better and ended in a good Season 1. Season 2 was good (though I remember being a bit worried at some point - oh yea didn't like where they were taking Ty's char - I really loved what they did with him in season 1), and so far impressed with season 3.
Yeah, the chicks are hot (Michelle the love/healer chick especially), even the lesbo handmaiden chick. Scenes when Thor shows up are great, and Olaf is boss.
So yeah, I'd recommend it. They say it's a comedy-drama, but more of a light-hearted drama (most of the time they're pre-occupied with drinking and screwing), though you can feel the kiwi vibe about it (not as bad/blatant as xena or hercules though).