If you don't like Mel Brooks, you won't like this film. That's a given. Why anyone wouldn't like his films is unknown to me, but for those who can't see the light, just avoid it.
Everyone else: This is a classic. The entire cast is perfect: Carey Elwes is a dashing, clever, BRITISH Robin Hood, Amy Yasbeck overacts appropriately as Marion, Richard Lewis is his usual distracted, annoyed self, Roger Rees is a brilliant combination of fluster and violence as "Mervyn" the Sheriff of Rottingham, and Dave Chapelle, Eric Allan Kramer, Mark Blankfield, and the sadly underused Matthew Poretta are the perfect Merry Men.
There are similarities to Spaceballs, Blazing Saddles...and every other Mel Brooks movie. But why would you want him to change his style when it works so damn well? The pop culture references in this movie are old enough to be funny again...from the view of a 16 year old, at least. It's complete and utter parody, every second a play for a laugh. Some of them don't work, but most do, and well. I discovered new jokes the fifth and sixth time I watched the film!
Of course, if being barraged by constant visual and verbal gags isn't your style, you wouldn't like this. This isn't an Academy Award winner, it's Mel Brooks. You know what it is when you're getting into it. If you want nonstop laughter, surprisingly well-developed characters, and catchphrases to last a lifetime, watch this.