^^i'd say if you've seen the first episode, then you've probably watched some of the best this show has to offer...
so what follows: (obviously) jin and mugen accompany fuu on a hike (edo, okinawa islands etc.) in search of the sunflower samurai (fu's dad); with such encounters: graffiti artists, j-rappers

, your usual ukio-e artist scam, a food eating contest (in which you see fuu blow up like a rubber doll to guargantuan proportions (a la rubber luffy/one piece). not to forget the classic burning down of a field of renegade monks' mj to get everyone in the 500-mile radius nice'n happy, hippy-style...
all of this is in the middle of the late 17-early 18-th century edo-era japan. the part about mugen's old days of piracy, and native roots deserves special mention (i think it's a two-episode story)...
anyway, the show is plenty comedy and a healthy bit of tragedy.
to sum up a short review: artwork spectacular, animation phenomenal (what you'd expect from shinichiro watanabe) and awesome soundtrack to top it off.
unfortunately: story telling lacks pacing; (fuu gets captured once too many 8) ), the characters get a touch stale; although there is enough insight into their background to keep you tied to your monitor...
do not get me wrong, this is fantastic work; its style had me in cartwheels around my living room... as far as substance... m-e-h... it's no cowboy bebop, but i would not call it a waste of time, either...