I laughed all through the movie. Steve Carell's bang-on portrayal of a nerdy man-child, the strong supporting cast (especially Seth Rogen and his often-ad-libbed performance as a grown-up version of his Freaks and Geeks character), the endless tream of good jokes (even the ethnic humor got done just right) and the best movie ending in a long time all made it that rarest of things: a movie I'd gladly see again in the theatre during its first run. It's both a "boy's night out" film with a heart and a date movie that won't make you feel as if you've been chloroformed. It really pushes the R-rating on the swearing, but it's no worse than the way a good number of otherwise upstanding individuals speak all the fucking time.
If my endorsement is not sufficient, you could always listen to the movie critics, who by and large loved the film.
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I was won over the moment it opened with Joe Walsh's Life of Illusion, right through to that ending. Comedy is usually about cruelty, and laughing at the pain of another (and this movie does allow for a bit of slapstick during the waxing scene) but it's not about laughing at the main character's sexual status, as the title might suggest. Especially as we get to know the screwed-up lives of his sexually active co-stars. Ultimately every character aspires to help the main character in their own way, and that's a caring that is rare in American movies.