Bruno.
fucking hilarious.
The only people i've heard say it isn't funny take the attitude that Bruno goes "too far" i.e. the kind of people who think being gay is "okay" as long as you don't come near me, e.g. like when bruno is trying to make a sex tape with ron paul -- cringeworthy, but fucking funny.
So yeah, if you don't want to see another guys dick and think jokes about anal bleaching are in bad taste, give it a miss, personally i think its worth seeing just to admire Baron Coens balls in some of the confrontations he gets in (although its hard to tell the actors from real people).
Maybe not as good as Borat, but there are definitely some stand out scenes that rival the balls out comedy of Borat (straight dave
)