I thought this was pretty good. The DC Comics in jokes were appropriately hardcore.
The running gag of Aquaman being humiliated by the JLA and seeking revenge by joining the Legion of Doom was okay, pretty much what you expect. This was juxtaposed against a running gag of Bane breaking Batman's back four times ("Rule of three, asshole!" made me laugh) and Luthor repeatedly getting hit in the face with a beach ball.
My favorite of the running gags was Superman realizing his kiss can make people forget so he flies around kissing all his enemies.
I liked the more off beat jokes a lot more, like Robin's bar mitzvah ("Robin's not Jewish!") and Hal Jordan being unable to keep a straight face as the Zoo Crew buried Captain Carrot. Batman: "Captain Carrot and I didn't see eye to eye on a lot of things, but..." Also, Sinestro getting a staph infection and Superman getting machine gunned in the groin.
I also liked the scene of Superman, Batman, Aquaman, Flash, and Green Lantern at a night club trying to pick up chicks and the argument between the ice-themed super villains at the museum.
A lot of famous people doing voices but they had Megan Fox as Lois Lane and only gave her one line in one vignette. For all the barely hidden gay jokes and overt fish beastiality jokes about Aquaman, I'm surprised they didn't do any lesbian jokes about Wonder Woman and Paradise Island, but there's probably a director's cut or something on the DVD.
“@ZackRyder: @CMPunk She played me bro” I got your back.
I just went from dreading this to putting it at the top of my Summer viewing list. Looks like the costume won't be superglowy all the time. I'm thinking the storyline will be similar to the Secret Origin arc from a couple years ago.