My wife and I are watching it. I'm still kinda on the fence, but it's not bad. Maybe I'm letting other Arthurian legends taint me, but the idea of Arthur being a selfish spoiled horny teenager is sort of off-putting. The other thing I haven't figured out yet is the strange mix of supernatural and realistic. It's like they've tried to strip a lot of the supernatural out of the legend in an effort to make it more reality based, but then on the other hand they have this whole supernatural plot line regarding Merlin and Morgan. Hmmm... it will be interesting to see how it continues to develop.
Oh, and just like every other Arthur legend I've ever seen, my impression of Guinevere is that she's cheating trash.