It is not often that the first episode of an anime series leaves me boggled as my major reaction.

The best way I can think of to describe P&S is that it feels like Gainax decided that they wanted to make a modern American cartoon and then turn the age limit up (without turning up the maturity level, which appears to be set firmly at the Ren & Stimpy or Beavis & Butthead level). The result is extremely unlike almost all of the other anime I've seen, including Gainax's other work.

(In a very bad way, Gurren Lagann is the closest other anime that I can think of, in that it started out as a deliberately over the top take on Japanese giant robot anime. You could perhaps say that P&S is an even more over the top take on modern American cartoons, given a Japanese twist and a much increased age limit.)

Aroduc's summary of the first episode will give you a more detailed rundown if you want it. Do not worry about reading spoilers; P&S is not the sort of experience that can really be spoiled.

I don't know if I like it, because the question feels inapplicable. This is not a show that you like, this is a show that you watch in horrified fascination because you can't turn away. (Or that you flee from with all due speed. It is possible that this is the most sensible reaction to P&S.)

I fall into the 'boggled and unable to look away' camp, so I will be watching the next episode. Of course I have no idea what it will be like; P&S is already so bizarre that it would not surprise me in the least if Gainax changed things majorly every episode (or every few episodes or whatever), depending on how thoroughly they want to run the current joke into the ground.