Carnival Phantasm is something like a skit comedy featuring a characters from Type Moon visual novel franchises Tsukihime, Fate Stay Night, and Melty Blood. While popular in Japan, none of the visual novels are released in the U.S. and the anime adaptations released over here didn't go so well (although recent Fate stuff has been decent).
That's why I can't give this one a rating: you need to be a fan of Type Moon shows to know where it's coming from to appreciate it. From my perspective, this is one of my favorite comedies ever. There's a healthy dose of silliness when approaching aspects of the franchises, as Type Moon is candid about some quirks and shortcomings of their own creations. Like when did Rider ever utilize her A+ riding ability? Shiki is a total space case, and Shiro's "I just want to make everyone happy" mantra is used to great comedic effect. It's ingenious the way characters are transplanted from serious visual novels into a comedy and work wonderfully, with just a few minor tweaks.
Carnival Phantasm is a strong comedy, and a real treat for anyone who's a fan of Type-Moon franchises. However if unfamiliar with the source material, much of this will be like an inside joke you're not a part of (with much of the humor going over your head). Personally I loved it, so I'd say if you meet the prerequisites, definitely give this one a shot.
Taiga: We're finally animated. So now I can move around like this!
Illya: No! If you move around so much the budget will----
Screen Caps: >