I saw Bruno this week. While it had its moments, I wouldn't recommend it - fewer laughs than The Hangover, and many of the best ones I'd already seen in ads or trailers.
Not a great movie for the homophobic, but I knew that going in, and the only movie where the usher (or whatever they call kids working at the movie theatre) apologized to me as I was leaving. When I said, "it wasn't so bad", he must have assumed I was queer since I was with a guy. I think a lot of men experience cognitive dissonance after leaving that flick, trying to rationalize laughing at a movie that showed so much dick, and very little pussy.
The Hangover was good, and I think it's fantastic how well it did, essentially from word of mouth, but I think it's overrated due to a lack of better competition.