MUCH, much funnier than "Pineapple Express" and at times, absolutely hysterical. It's a lot more grounded in reality than "Anchorman" or "Talladega Nights", yet at the same time it retains that Adam McKay madness.
There is so much funny stuff in this movie that it would be a crime to spoil the best bits, so I won't. But what you see in the trailer is just the tip of the iceberg, really. This movie is gleefully juvenile and crass and immature in the best possible way. It definitely earns its R-rating, in a way that feels justified, not like in "Semi-Pro" where they just gratuitously cursed their way to an R.
There are many UCB people and friends of Ferrell in this that add to the funny. I will say that I was the most surprised at Kathryn Hahn, who has done some cute little supporting bits in other films, but who is shockingly hilarious in this. She goes to some places in this movie....wow, well, again I don't want to spoil, but I know you guys will all like this one a lot when you see it. Highly recommended.